FNG Exclusive… FNG has learned that Cyprus based, CySEC-licensed Retail FX and CFDs brokerage group ICC Intercertus Capital Ltd is making some major changes, including a new CEO from outside the FX industry, the launch of a new brand and strategy, alongside the phasing out of its current main brand.

First, to the management change. ICC has brought on former Deloitte partner Panikos Teklos as CEO. Mr. Teklos joined Deloitte in 2016 and was named a Partner in 2018. His focus at Deloitte was on providing risk advisory services to investment funds, investment companies, banks and other organizations, as well as heading wealth advisory services for institutional and private clients in Cyprus. He has also worked at Citi, Barclays Capital, and BNP Paribas.

Under Panikos Teklos’ leadership, FNG has learned that the company is phasing out its existing retail FX brand EverFX, and will be launching a new brand with a new strategy called Axiance. Axiance will look to differentiate its offering by positioning as an ESG-friendly broker (e.g., operating out of solar powered offices in Limassol), and partnering with social enterprises such as UK-based Ecologi in initiatives such as planting trees to offset the carbon footprint of its workforce.

Panikos Teklos, ICC Group CEO, commented to FNG about the ESG aspect and partnership with Ecologi:

“We felt it was time for the industry to face its responsibilities and tangibly demonstrate how committed it is to ESG compliance. This partnership reflects our core values of transparency and sustainability. This is what our traders are looking for and is one of many steps we have taken to meet such expectations. As we are based in Limassol, Cyprus, we are also actively planning local eco initiatives and CSR projects that support the environment as well as lift up local communities.”

We understand that ICC / Axiance is also pursuing a Dubai DIFC license, and following its planned launch this summer will look to expand to other jurisdictions. The company will also look to sponsor individual athletes whose brands fit the ethos of Axiance, as opposed to some of the football team sponsorships which have become almost commonplace today among FX brokers.