Recent appointments at INGOT Brokers have brought two notable industry veterans into key roles, enhancing the firm’s leadership team. Andreas Andreou takes on the position of Chief Sales Officer, while Marios Morfakis is stepping in as Head of Business Development. Both individuals recently left their previous positions at a renowned brokerage, coinciding with a wave of departures from the organization.
Following his exit, Andreou co-founded a proprietary trading platform, where he serves as co-CEO. He confirmed that he will continue to operate this trading firm while fulfilling his new duties at INGOT Brokers. Andreou emphasized that the platform, named “thePropTrade,” remains fully functional and is managed by a team of experienced professionals. He assured that his new role would not interfere with the platform’s operations and that he would offer strategic insights as required.
Andreou’s co-CEO at the proprietary trading platform is Md Hazly, who also has a history with HF Markets. The firm currently has a team of eight that focuses on various essential areas like marketing, operations, graphic design, and educational initiatives.
In his role at INGOT, Andreou intends to leverage his extensive background and vision to propel the company’s international growth strategy. He aims to cultivate strategic partnerships and enhance the firm’s market presence across various regions, particularly in emerging markets in Latin America, Africa, and Asia.
INGOT Brokers operates primarily from its Seychelles headquarters, but it also has regulatory licenses in other countries including Australia, South Africa, and Kenya. The firm aims to expand its footprint in these promising regions under Andreou’s leadership.
On the other hand, Morfakis, who will manage business development initiatives, has relocated to Limassol, Cyprus. His prior experience includes nearly two years as the Global Head of Sales at the same brokerage as Andreou, along with a brief tenure as Head of Sales at another company. His background also features roles at Wintrado Technologies and HF Markets.
The context for these recent transitions involves significant challenges faced by their previous employer in Cyprus, leading to a significant turnover of personnel and the suspension of one of their operational licenses by local regulators shortly thereafter.
Additionally, other former employees from the brokerage are transitioning to prominent positions at different firms. For instance, Nicole Heinrich, who held the role of Chief Sales Officer for several years, recently accepted the position of Chief Commercial Officer at another brokerage. Similarly, Marc Suárez, another recent ex-employee, is now heading marketing at a new CFDs brokerage that was established by a former executive from the same firm.
The movement of these skilled professionals into new opportunities highlights a broader trend within the industry, reflecting both challenges and opportunities that are forming as organizations adapt to market dynamics.