APM Capital, a UAE-based brokerage firm, has made significant strides in revitalizing the FCA-licensed UK brokerage formerly known as BUX, which it acquired in mid-2024. The company has appointed a prominent figure from its Dubai office as the Executive Director of APM Capital Markets Limited in London.
The newly appointed Executive Director previously held a senior position as Chief of Staff in Europe for the US institutional broker StoneX for over a decade. In 2022, he joined APM Capital in Dubai as the firm began its operations following the acquisition of a license from the Financial Services Regulatory Authority in the Abu Dhabi Global Market.
APM Capital’s acquisition of the UK subsidiary of the Amsterdam-based neobroker was a strategic move following BUX’s takeover by Dutch banking institution ABN Amro in 2024. The revamped ownership decided to divest its non-core operations across non-EU regions, leading to the transfer of BUX Financial Services Limited to APM Capital. In 2023, BUX UK’s revenues were reported at just £843K, alongside losses totaling £3 million, a stark decline from over £18 million in revenue just three years prior.
Under the new management, APM Capital aims to launch a fresh trading platform and build a new customer base in the UK, rebranding under the APM Markets name. The company is a part of Asseta Holding Limited, controlled by an Indian national residing in the UAE, emphasizing its international approach to the financial services sector.
With these changes, APM Capital is well-positioned to strengthen its position in the UK market and expand its offerings to attract clients while enhancing its overall operational framework.