A recent appointment has occurred within APM Capital Markets, which operates as APM Markets, following its rebranding after the acquisition of BUX Markets. Nick Spencer-Skeen has been designated as the new Executive Director for the London branch of the firm. Spencer-Skeen’s tenure with APM has spanned two and a half years in the UAE, where he has contributed significantly before undertaking this new role in the UK.
In a recent communication on LinkedIn, Spencer-Skeen expressed his enthusiasm for this new position, noting that he will simultaneously maintain his responsibilities as the Senior Executive Officer at the UAE division. This dual role indicates a commitment to being involved in both regions’ operations as the company navigates its transition and growth.
This key appointment arrives shortly after the sale of BUX’s UK contracts for differences (CFDs) and spread betting operations to APM Capital, a UAE-based entity. The acquisition prompted a rebranding of BUX Markets, aligning its identity with APM’s global structure and offerings.
In addition to the UK sale, BUX previously finalized a transaction involving its main Netherlands business, which was sold to ABN AMRO just a week prior. Despite this change in ownership, BUX Holdings has affirmed that it will independently manage its operations, suggesting a continuing focus on its strategic plans within a broader lending context.
Despite these developments, APM’s UK division has not yet begun to onboard clients. Its official website mentions that it is currently involved in a reassessment of its product offerings, with plans to resume operations in the future. This period of reevaluation follows a decline in the company’s revenue and profits in 2023, prior to the acquisition, highlighting the necessity for strategic adjustments as the company positions itself for upcoming market activities.
In terms of leadership experience, Spencer-Skeen brings a wealth of knowledge from the forex sector, focusing primarily on institutional roles throughout his career. Before joining APM Capital Markets, he held a significant position as Chief of Staff for the EMEA region at StoneX Group, where he played an integral part in the company’s rebranding efforts from its former identity as INTL FCStone. His extensive background also includes executive roles at Banca IMI, Banca Caboto, Rolfe & Nolan, and ING Derivatives, showcasing a robust history of leadership within the financial services industry.
With this new leadership in place, there is a collective anticipation for APM Capital Markets as it looks to strengthen its operations in London, while also ensuring that its UAE segment continues to thrive. The strategic decisions being made now are critical for shaping the future trajectory of the company as it hopes to reestablish itself within the competitive markets of CFDs and spread betting. The professional experience and insights brought in by Spencer-Skeen are expected to play a pivotal role in navigating these challenges and opportunities moving forward.
In summary, APM Markets is poised for a significant phase of evolution and growth under the guidance of its newly appointed Executive Director, all while reassessing its market offerings to adapt to client needs and operational strategies in both the UK and UAE markets.