Australia based Retail FX brokerage group AxiCorp, which operates the AxiTrader brand, has announced a management shakeup which has seen the company hire Patrick Salis as the company’s new Chief Financial Officer, replacing longtime CFO Simon Hodgkiss. Mr. Hodgkiss will remain at AxiTrader, taking on the newly created regulatory-focused role of Chief Risk Officer (CRO).
Patrick Salis is a member of at The Institute of Chartered Accountants of Australia and before joining AxiCorp was CFO and COO at ASX-listed broker technology solutions company GBST Holding Ltd. Prior to GBST he held CFO positions at Virgin Money (Australia) and JDV Ltd.
Rajesh Yohannan, CEO at AxiCorp, said:
We have ambitious plans for the business and Patrick’s deep knowledge, wide-ranging experience and global outlook are ideally suited to helping take AxiCorp to the next level. I’d like to welcome him to the team and look forward to working closely with him.
The company stated that the new CRO position that Simon Hodgkiss moves into has been created following a large volume of regulatory and privacy law changes across the globe. With AxiCorp having recently acquired licenses in the DFSA (Dubai Financial Services Authority) and New Zealand, as well as having a further license pending in another region, the company is significantly expanding its global reach. In order to ensure full and ongoing compliance with new laws, the role of Chief Risk Officer will be primarily concerned with creating appropriate risk management frameworks then monitoring the policies and procedures to ensure standards are met across the business.
Mr. Yohannan added:
We’re very fortunate to already have a great team in place with very high standards when it comes to dealing with risk and compliance in different markets across the world. With a dedicated CRO in place, we’ll be able to ensure these high standards continue to be maintained by staff right across the business.
Simon has been with AxiCorp for several years so he already has intricate knowledge of our business, he knows the industry and he understands the frameworks we need to work within. This makes him the ideal person to take on this important portfolio.