Continuing a months-long hiring spree, FCA regulated Prime of Prime brokerage Stater Global Markets has announced that Michael Davies has joined the company and has been appointed Global Head of Sales.
Michael Davies joins Stater after over 14 years at Sucden Financial, where he was Head of eFX Sales EMEA and was instrumental in establishing and growing Sucden’s eFX business.
Stater stated that this newly created role at the company is a major development for the firm. Stater announced plans to build a sales function last month, with the first appointment being Max Moriarty (hired from FIXI plc) in EMEA sales who joined in September 2018 and will report directly to Michael.
Other recent hires at Stater include former IG Group institutional chief Mark Chesterman who joined Stater Global Markets in June as COO, and Simon Henry who came over as Head of Compliance. Mr. Henry previously held Head of Compliance responsibilities at GAIN Capital Forex.com, London Capital Group, ETX Capital, LMAX Exchange and most recently Goldenway Global Investments, which operates the China-focused FX broker GWFX.
Michael Davies brings extensive industry experience to Stater, where he will be responsible for global sales and managing a growing sales team. He joined Sucden Financial in 2004 as a Research Analyst before becoming Head of Research in 2007. Following a two year period as Manager of Corporate Strategy and Business Development, he joined the eFX team in institutional sales in 2011 and was promoted to Head of eFX Sales EMEA in April 2016.
Ramy Soliman, CEO, Stater Global Markets commented,
Michael’s appointment is a significant milestone for Stater – he is a well-respected and knowledgeable senior sales person with an extremely versatile skillset and brings a wealth of institutional insight to Stater. We are thrilled he is joining. This appointment highlights our underlying ambition for Stater Global Markets as we continue to invest in the business and expand globally.
Michael Davies added,
After almost 15 years at Sucden Financial, helping them grow from being an unknown in FX PB to a well-respected firm trading yards and yards a day, I felt like I needed a new challenge. Stater presented me with the ideal opportunity – a global role in a young, dynamic, ambitious firm which has FX at its core and is eagerly looking at complimentary products like Crypto CFDs.
Stater Global Markets fits my ethos of exactly what an ethical FX Prime of Prime brokerage should be; working for their client, not against them. There are key conflicts of interest with many Prime of Primes, whether it be competing with their clients for business, trading against their clients to profit from their losses, or being owned by a Liquidity Provider. I am not comfortable with this mode of operating and feel that Stater, which has no inherent conflict of interest, stands out in this industry. Its independence, the calibre of its team – from the shareholders to senior management – and the impressive speed at which it has been able to implement institutional grade technology to provide credible liquidity solutions in both NY4 and LD4, all make this an exciting opportunity for me.
Stater Global Markets is an FCA regulated Prime of Prime brokerage which 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 SBL Holdings Limited.