The Chief Executive Officer position at CMC Markets Investments Limited, which is responsible for the CMC Invest brand, has been assumed by David Fineberg following the resignation of Albert Soleiman. Fineberg, who had been serving as the Deputy CEO of CMC Markets Group, has stepped into this new role as the company navigates a transition period.
Soleiman, the former CFO of the CMC Markets Group, left his position after a tenure of around one and a half years, with his departure mutually agreed upon by the board. He has consented to remain with the company for a specified time to facilitate a smooth transition. His resignation comes amid challenges faced by CMC in the market, particularly related to the company’s share performance.
In addition to his duties as CFO, Soleiman was also the Chief Executive of the UK division underpinning the CMC Invest brand. While Fineberg has taken on the leadership of CMC Invest in the UK, a new CFO has yet to be appointed to succeed Soleiman in that critical financial role.
Fineberg’s extensive history with CMC Markets began in 1997, where he progressed through various executive roles before becoming Deputy CEO in 2019. He ranks as the second-highest officer in the company under the current Group CEO.
The CMC Group introduced the CMC Invest brand in 2022, diversifying its offerings to include investment services featuring physical shares traded in both the United States and the UK, along with exchange-traded funds (ETFs) and investment trusts. The launch was initially targeted at the UK market before extending to Australia and Singapore.
Additionally, the CMC Invest unit in Australia has made strides by providing users with access to TipRanks, a platform that aggregates market research. This partnership is currently confined to Australia, but the Singapore branch of CMC Invest also plans to implement these services in the future.
Previously, the institutional division of CMC Markets, known as CMC Connect, engaged in a collaboration with Revolut, aiding the latter in onboarding clients for contracts for differences (CFDs) within European markets. This initiative began in three regions— the Czech Republic, Denmark, and Greece. However, CMC has indicated that the revenue benefits from the Revolut partnership remain minimal due to its restricted geographical presence.
As the company positions itself for future success under Fineberg’s leadership, market observers will be attentive to the appointment of a new CFO and the strategic directions that CMC Markets will embrace moving forward.