A recent announcement on LinkedIn revealed a new appointment at TIOmarkets, which now welcomes a new Global Head of Partners. This individual takes over a significant role aimed at enhancing partner relationships and driving business development within the company.
Previously, this new appointee held the position of Head of Partners at IC Markets. In this role, they focused on managing partnerships and spearheading growth initiatives across the organization. Their career includes a tenure at IronFX, where they led business development strategies specifically for the Asia and Africa regions. They also briefly served as Global Business Development Manager at M4Markets.
In addition, they have experience from HotForex, where they spent over six years and held multiple roles, notably as Head of Asia Business Development. Responsibilities during this period included overseeing business development operations, negotiating partnerships, expanding educational initiatives, staff training, and scouting for new growth potential across various markets.
In another development, TIOmarkets has added a new Chief Operating Officer and FX Consultant to its team. This new team member expressed enthusiasm for contributing to the company’s advancement, emphasizing the importance of incremental progress toward long-term achievements.
On a business operational note, TIO Markets UK Limited, the UK division of TIOmarkets, underwent a restructuring process last year, resulting in a decline in revenue. The total revenue reported for 2022 was $34,171, a notable drop from $150,961 in the previous year. This decline in revenue coincided with increased sales costs and administrative expenses, which rose to $197,131 and $807,729 respectively.
Despite the drop in revenue, TIO Markets UK was able to achieve break-even status due to a significant increase in other operating income, which reached $970,645. This figure was more than double compared to $441,041 in 2021. The restructuring efforts included updates to compliance policies and procedures in light of changing regulatory environments.
TIOmarkets specializes in offering a diverse range of contracts for difference (CFDs) that cover various asset classes, including commodities, indices, individual stocks, and foreign exchange. While the UK entity’s financials are documented, TIOmarkets operates globally under an offshore license from Saint Vincent and the Grenadines, and the figures reported are exclusive to its UK operations, not accounting for any of its subsidiary activities.