Equiti Group, the parent company of prime brokerage provider Divisa Capital and Retail FX arm Equiti Global Markets (Equiti.com) has announced the appointment of Gregor Schnuppe as Group Chief Financial Officer (CFO).
Equiti Group also stated that the company has plans to expand into the multi-asset retail brokerage space and potentially move into new markets.
Mr. Schnuppe has been in the financial services industry for 22 years with a focus on finance, risk and operations functions. He has worked for both large multinational institutions and niche brokers in global markets including the UK, Hong Kong, Singapore and Australia.
Gregor Schnuppe was most recently Global Head of Brokerage for Newedge Group, one of the industry’s largest prime brokers and futures commission merchants (FCM). Newedge was acquired in 2014 by Societe Generale Corporate and Investment Bank. He was the subject matter expert in the re-engineering of Newedge’s execution brokerage function.
According to the company, his strengths lie in the understanding of full control risks from execution through to financial and regulatory reporting. During the last 13 years of his career he has been involved in all support aspects of broking/clearing exchange traded and OTC derivatives.
Mr. Schnuppe’s previous roles include Head of Market Risk and Fixed Income Sales at DKB International. He is a Chartered Certified Accountant (ACCA) and has a BA(Hons) Accountancy degree.
Since raising $100 million earlier this year, Equiti Group and its subsidiary companies have been on a hiring spree including bringing on board Sammy Christou from LCG as Head of Trading, Khaldoun Sharaiha from ADS as Co-Head of Retail Sales, Hormoz Faryar as Global Head of Institutional Sales, Tony Philip as CMO, and Nigel Holmes from Kuwait International Bank as Global Head of Human Resources.
Group CEO of Equiti Group, Mr Iskandar Najjar said:
Equiti Group is very pleased to welcome Gregor Schnuppe as its new Group Chief Financial Officer. We are particularly pleased to attract a CFO with his extensive global experience and depth of industry knowledge.
Gregor’s previous experience managing an all-encompassing finance function that is strongly aligned to the needs of the business will be very valuable to Equiti Group’s global growth strategy following the USD 100 million cash investment the Group received earlier in 2017.
Commenting on his new appointment, Gregor Schnuppe said:
I am very excited to be part of the Group’s vision and bring my experience to help deliver an industry leading solution within the retail brokerage arena. Equiti is one of the few brokers that is bringing institutional ideals, processes and controls into the industry that is facing increased regulatory challenges and we will be well placed to meet them.