A new Head of Business Development for Digital Assets has been appointed by an electronic market-making firm, emphasizing its commitment to expanding within the cryptocurrency sector. This individual, Scotte Moegling, brings a wealth of knowledge and experience, with over twenty years in the financial markets. His prior role was as the Global Head of OTC Sales at Flow Traders, a position he held for nearly three years, managing operations across foreign exchange, precious metals, contracts for difference, and digital assets.
Moegling’s decision to join this firm reflects a clear strategy to enhance its presence in the thriving digital asset market. He will work from Austin, Texas, overseeing a variety of responsibilities that incorporate digital assets, foreign exchange, precious metals, contracts for difference (CFDs), and exchange-traded funds (ETFs).
Prior to his tenure at Flow Traders, Moegling amassed significant experience in leadership sales positions at various prominent financial institutions. He dedicated six years to Citigroup, focusing on FX prime brokerage roles, and served as the Head of European Sales within that division, operating in both New York and London. His LinkedIn post highlights his enthusiasm about embarking on this new journey in business development for digital assets.
His earlier career history features nearly two years as Director of Prime Services Sales for the Americas at NatWest Markets, alongside key leadership roles in organizations like London Capital Group and FXCM Pro, where he concentrated on operations and liquidity management.
Moegling’s hiring comes on the heels of another significant internal transition within the firm, as the previous Chief Technology Officer was recently elevated to Chief Executive Officer. This strategic move aligns with the company’s reported financial growth, announcing nearly $1 billion in revenue in the second quarter.
As a leader in the electronic market-making space, the firm is actively enhancing its capabilities in the digital asset domain amid a growing institutional interest in cryptocurrencies. Its established proficiency in high-frequency trading and market making offers a strong foundation for navigating the complexities of the crypto markets.
There’s an observable trend where electronic trading firms are increasingly seeking seasoned experts from traditional finance, aiming to merge established markets with the burgeoning realm of digital assets. Moegling’s extensive background across several asset classes—including foreign exchange and precious metals—positions him as an ideal candidate to bring valuable cross-asset insight to the firm’s digital operations.
Moreover, his appointment aligns with improving regulatory clarity surrounding digital assets in key markets. Such advancements could potentially unlock new avenues for institutional market makers, creating further opportunities for innovation and growth within the firm.
In conclusion, the strategic hiring of Moegling underlines the firm’s proactive approach to embracing the evolving landscape of digital assets while leveraging its existing strengths in the financial market. This move not only augments the firm’s capabilities but also signals its commitment to remaining at the forefront of cryptocurrency trading and development as institutional interest escalates.