LeapRate Exclusive… LeapRate has learned that online gaming and financial trading company Playtech PLC (LON:PTEC) is continuing to reshape the management team at its financial division TradeTech Group.
Most recently, Playtech has replaced the CEO at its FCA regulated arm TradeTech Alpha Limited. Leaving the company is Stephen Williams, CEO of TradeTech Alpha since the company’s creation. Replacing Mr. Williams as CEO is Des (Derek) Grech (pictured above), COO of the company.
Stephen Williams was the only senior manager left at TradeTech from before Playtech acquired FX market maker Alpha and FX technologies and liquidity provider CFH Group. Before those acquisitions, Playtech had set up an FCA licensed arm called Epsilon Finance, headed by Mr. Williams. Mr. Williams oversaw the original licensing of Epsilon and its eventual upgrade from a matched-principal 125K license to a full principal 730K license. He was also instrumental in the merger of the aforementioned companies and their legal and operational integration into what is today TradeTech.
Des Grech was one of Alpha’s senior managers, acting as COO when the company was acquired by Playtech. He was in senior sales positions with GFT and (after GFT was acquired) GAIN Capital, before leaving GAIN with Muhammad Rasoul – who is now TradeTech’s Chairman – to set up Alpha in 2014.
The move follows a similar one in TradeTech’s retail arm Markets.com. We exclusively reported last week that Markets.com hired a new CEO from outside the company, with Joe Rundle joining from ThinkMarkets.