Brendan Foxen joins CMC Markets as chief technology officer

The global provider of online trading CMC Markets Plc has appointed Brendan Foxen as its chief technology officer. The position is newly created to enhance the technology division of the company.

Chief executive officer Peter Cruddas commented:

Peter Cruddas, CMC Markets

Peter Cruddas

Brendan brings a wealth of experience and expertise to CMC and specialises in helping businesses innovate and fast-track growth through technology. His appointment is a further sign of CMC’s ongoing commitment to innovation and will support the accelerated development of the many opportunities that are in the pipeline.

CMC Markets is a technology driven business and Brendan is joining us to further strengthen an already successful and established team. I look forward to working with Brendan as we continue to grow.

Brendan Foxen appointed as chief technology officer of CMC Markets

Previously, Foxen served as a CTO at digital transformation consultancy Contino for two years after he worked as VP of Engineering for eight months. While Foxen was at Contino, the company saw an expansion from 16 employees to 400.

Brendan Foxen, Chief Technology Officer stated:

I am excited to be joining CMC Markets at this exciting time of diversification and growth for the business. This is an exciting opportunity to further develop CMC’s technology as we advance the Company’s B2B offering and client journey optimisation.

In the beginning of July, CMC Markets reported operating income with £102.3m in excess for Q1 2021. The company started the quarter from a strong position and continuing to perform well. The client trading activity almost doubled compared to the same period the previous year.

Client income retention for Q1 2021 was higher than the 82% reported in H1 2020 and stockbroking net trading revenue also continues to benefit from the market conditions, affected by the coronavirus crisis.

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