FCA regulated FX prime brokerage Stater Global Markets has announced that it has hired Mark Chesterman, former COO of the IG Institutional division of IG Group Holdings plc (LON:IGG).
He has joined Stater Global Markets in a newly created COO role.
Stater Global Markets offers institutional clients direct access to Tier 1 bank and non-bank liquidity, clearing and institutional grade technology. The London-based firm is a wholly owned subsidiary of Stater Blockchain Limited.
Mark Chesterman joins Stater Global Markets after 14 years at IG, where he held a variety of positions prior to being promoted to COO of IG Institutional. These include Global Business Development Officer, Head of Futures & FX, and Chief FX Dealer.
As part of his remit at Stater Global Markets, the company said that Mark Chesterman will work closely with Stater CEO Ramy Soliman on global expansion plans and new product development. He will also oversee the day-to-day activity of the firm, ensuring the Stater platform remains operationally robust and agile. Mr. Chesterman and Mr. Soliman know each other from their days together at IG in the mid 2000’s.
Ramy Soliman, CEO of Stater Global Markets commented:
Mark played a key role in IG’s rapid growth into a FTSE 250 organisation and the world’s largest spread betting and CFD brokerage. His extensive experience in trading, operations and management is tailor-made for our requirements. Mark headed up IG’s institutional division, overseeing liquidity management and working closely with banks, hedge funds and brokers. He also played a major role in business development in Asia and was instrumental in setting up IG’s cryptocurrency offering. Mark is highly intelligent, with an Executive MBA from London Business School specialising in strategy and entrepreneurship as well as a Masters in Finance, also from London Business School.
An appointment of this calibre highlights our global growth ambitions. Mark will bring invaluable insight to Stater and his appointment frees up some of my time to enable me to focus on business development and sales opportunities.
Mark Chesterman added:
I am excited to be joining a young, agile organisation with significant growth opportunities and strong financial backing from a very credible investor. I’ve been watching Ramy and the team build Stater over the last couple of years and have been really impressed by the thought and quality which has been key to their early stage growth. I believe that Stater is the only truly liquidity agnostic Prime of Prime in the market and, in my view, having no vested interest in how a client trades is exactly the positioning a Prime of Prime should have. I’ve always been impressed by Ramy’s integrity and am looking forward to working closely with him.
As part of my new role, I will also have the opportunity to get involved with Stater Blockchain. This is a particular area of interest to me and so working at a firm with a mandate to build blockchain products is very exciting.