LeapRate Exclusive… LeapRate has learned that Australia based Retail FX broker Pepperstone has continued to build its presence in Europe, hiring Torsten Gellert as it new Managing Director of Pepperstone Germany.
As we exclusively reported two weeks ago, Pepperstone recently re-opened its FCA regulated UK-based operation, Pepperstone Limited. It then requested that all EEA-based clients of the company transfer their accounts to the UK branch, in keeping with EU regulations.
In addition to adding Mr. Gellert, which will make Germany a key focus market for Pepperstone UK, the company recently added Zack Ioannou from GCM Prime to head UK Compliance. Both Mr. Gellert and Mr. Ioannou will report to Iain Rogers, former CEO of Admiral Markets UK, who has been brought in as Managing Director the UK based operation for Pepperstone.
Torsten Gellert joins Pepperstone from Australian rival AxiTrader, where he held a similar position. Mr. Gellert had also previously been the “Germany guy” for CMC Markets Plc (LON:CMCX), and at FXCM. He will continue to be based in Berlin for Pepperstone.
We’d also note that this is the second senior level executive departure we’ve reported on over the past two days involving AxiTrader. As was also exclusively reported at LeapRate, AxiTrader’s long-time Managing Director Alex Mackinnon left the company last month, and will be joining FX technology and white label solutions provider CFH Systems.