FNG Exclusive… Further to our exclusive report from early 2024 that control of Retail FX and CFDs broker HYCM had changed hands in a management buyout (or MBO), FNG has learned that the two principals who took control of HYCM – Stavros Lambouris and Roger Bach – have struck a new deal between them.

Specifically, Stavros Lambouris has bought out Roger Bach, who (at the age of 65) will be retiring and leaving HYCM.

Roger Bach had served as a Director and CEO of the company’s London based, FCA regulated arm HYCM Capital Markets (UK) Limited, since 2005. Taking Roger’s place as CEO of HYCM UK will be Marcin Piotr Swanson-Zajac, who has been with the HYCM / Henyep group for more than two decades, most recently as Head of Risk at HYCM UAE.

Stavros Lambouris has been with the HYCM Group since 2007 (except for a short stint at a rival broker in 2010-2011), and has served as CEO of HYCM’s EU and international businesses, out of Cyprus, since 2014. We’d note that the group decided to renounce its CySEC CIF license for HYCM (Europe) Limited soon after the initial MBO was completed.

The brokerage used to be known as Henyep and as HY Markets, rebranding fully as HYCM in 2016, with the group’s then-Hong Kong based parent company keeping the name and brand Henyep Group. The Henyep Group is controlled by Chinese businessman Sheen Charm Chiu, who sold control of the HYCM brokerage brand in early 2024 to Stavros Lambouris and Roger Bach, as noted above.