LeapRate has learned that Marco Baggioli has resigned his position as Group COO of global investment house ADS Securities.
Mr. Baggioli resigned his position 10 days ago and is currently on garden leave. The company is planning on naming a replacement shortly.
The move comes after Mr. Baggioli had helped orchestrate a large changeover in management at ADS, both in its Abu Dhabi headquarters and in London. Mr. Baggioli also helped set up ADS Securities’ FX Prime-of-Prime business, which has largely been a success as the company saw large growth in its FCA regulated UK arm ADS Securities London Limited, with Revenue growth of 60% last year.
As was exclusively reported at LeapRate back in June, day-to-day management oversight of the Prime brokerage business was handed over to Paul Webb, CEO of ADS Securities London. ADS also recently hired former Advanced Markets and Swissquote executive Nidal Abdelhadi to head the company’s institutional business out of Abu Dhabi, and former IG Group executive Fabian Chui as Head of Brokerage Risk.
Mr. Baggioli had joined ADS Securities in July 2015 as the London office COO, before moving to Abu Dhabi one year later. Previously, he was Global Head of FX Prime Brokerage at BNP Paribas and has held senior management positions at Deutsche Bank, Merrill Lynch and JP Morgan, as well as MonteTitoli SpA, the Italian Central Securities Depository, which he led through its privatization from the Bank of Italy in 2000.