London based Retail FX and CFDs broker Capital.com has announced the planned succession of the Group CEO as part of its ongoing growth plans.

The Board of Directors of Capital.com has appointed the Group’s current Chief Commercial Officer, Kypros Zoumidou, as the new Group CEO effective immediately. The outgoing CEO, Peter Hetherington, will stay on as an advisor until 2026 to ensure a smooth transition and to provide strategic guidance to the company.

Before joining Capital.com early last year, Kypros Zoumidou had spent the previous 12 years at leading UK online broker IG Group – where Peter Hetherington had been COO (2002-2015) and then CEO (2015-2018) before taking the reins at Capital.com. Kypros’ last roles at IG were as Commercial Director International, and CEO of BrightPool, IG’s financial market making business providing liquidity to exchanges.

Peter Hetherington became CEO of Capital.com in May 2022. Under his direction, Capital.com has already enjoyed a fairly decent growth spurt, as he remade the entire management team – with many if not most of the senior hires being ex IG Group people.

The company said that this leadership transition marks the successful completion of Capital.com’s first phase of expansion and the implementation of its long-term succession strategy. Kypros spent the past 18 months working closely with Peter, preparing to guide the company into its next stage of growth. In his new role as Group CEO, Kypros will steer the company towards expansion into emerging markets while prioritising innovative product development and a robust technology infrastructure.

Viktor Prokopenya, Founder, Capital.com, said:

“On behalf of the entire Board, I would like to thank Peter, whose transformational leadership has been the driving force behind Capital.com. Guided by his vision and the execution of his strategic roadmap, he has rapidly led Capital.com to its next stage of growth and laid a solid foundation for his successor to build on.”

Kypros Zoumidou, incoming Group CEO, Capital.com, said:

“I am very pleased to step up to  the role of Group CEO of Capital.com. Having worked alongside Peter for over a decade, most recently at Capital.com, we were able to align our goals and mission quickly. I aim to build on Peter’s success and bring further growth to the solid base we have built. I look forward to working closely with our talented global team who will help me drive our business forward.”

Peter Hetherington, outgoing Group CEO, Capital.com, said:

“Having successfully implemented robust processes, procedures and improved the Group’s operational performance, Capital.com is well placed for future growth. I have full confidence in Kyp’s ability to lead the team and drive future growth.”

About Capital.com

Capital.com operates several licensed subsidiaries involved in online brokerage in the UK, Australia, and Cyprus. The company, and its sister brand Currency.com are controlled by British tech entrepreneur Victor Prokopenya.