Former Swissquote Group Holding SA (SWX:SQN) Head of Institutional Sales Nidal Adbel Hadi has joined US-based Advanced Markets and Fortex as the companies’ new Managing Director of Middle East and North Africa (MENA) operations and business development.
Advanced Markets LLC is an institutional liquidity and prime of prime provider, while sister technology company Fortex Inc. has developed a leading ECN trading platform facilitating $12 billion in daily currency, metals, energy, and CFD trades, and 500,000 tickets.
Nidal joins Advanced Markets and Fortex Inc. having spent almost 3 years with Swissquote where he most recently held the position of Head of Institutional Sales. Prior to his time at Swissquote, he spent 6 years as Head of Institutional Sales with MIG Bank, which was acquired by Swissquote. Importantly, Nidal brings with him an impressive track record of new business development, generated through 16 years of experience working in key leadership roles within the financial services industry.
LeapRate readers will recall that Nidal Abdel Hadi had agreed to join Dubai based Fortress Prime as CEO earlier this year, but promptly left after problems at Fortress Prime were found to be deeper and more complicated to unwind than he had previously believed (or was led to believe).
In his new position, Nidal will be responsible for driving the companies’ worldwide growth with a specialized and particular focus on the Middle East region. This signals a significant expansion for Advanced Markets and Fortex, as the firm continues to grow its global senior leadership team. The FX market in MENA is experiencing rapid growth and there is an increasing demand for a reputable counterparty, one that can deliver true STP (straight through processing) access to the interbank market via reliable and robust technology. The combination of Advanced Market’s superior liquidity and Fortex’s world class technology delivers the optimal product to address market needs.
According to Natallia Hunik, Global Head of Sales at Advanced Markets and Fortex Inc.:
Nidal brings world class knowledge of the market and a global perspective to this new position. He has a track record of success and a detailed understanding of the institutional FX sector. Adding this new role is vital for Advanced Markets and Fortex as we continue our ambitious plans to further expand into international markets, by pioneering real FX “Prime of Prime” services and promoting transparency and fair OTC FX execution.
Nidal Abdel Hadi said of his new role:
I am delighted to join Advanced Markets and Fortex Inc., the leading Institutional FX liquidity and technology providers. The demand for world-class institutional service, and stable and advanced technology that meets the needs of Banks, Brokers and corporate asset managers alike, is increasing worldwide. I believe that by combining the truly competitive prime liquidity and market depth of Advanced Markets and the state-of-the-art technology of Fortex we have created the optimal environment for Institutional clients , one that ensures both best execution and stable connectivity.