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Screenshot of a breaking news alert e-mail from Q2 2017
Abu Dhabi based FX and CFD broker ADS Securities has announced the hiring of Louisa Kwok from BNP Paribas as its new Head of Prime of Prime Sales. Ms. Kwok will be based in ADS Securities’ London office.
The UK arm of ADS Securities has been dealing with mounting losses, and launched its Prime of Prime solution in May of this year to try and grow the business. Following the Swiss Franc spike last January there has been a substantial decline in banks offering FX-specific Prime Brokerage services, leading to specialist firms like ADS looking to fill the void.
ADS recently went through a management shakeup in both its corporate headquarters and London office, and saw the recent departure of its Chief Market Strategist Nour Eldeen Al-Hammoury.
Louisa Kwok spent the past four years at BNP Paribas in London, in a variety of senior client relationship roles. She has also worked at Morgan Stanley and JP Morgan.
Marco Baggioli, Executive Managing Director and Global Head of Brokerage at ADS Securities, commented:
Louisa has a wealth of experience in Prime Brokerage and is well aware of the challenges and opportunities facing the market. I am confident that her knowledge and experience will help grow and expand ADS’ true Prime of Prime offering.
We are particularly excited about Prime of Prime’s potential in emerging markets, and have also seen tremendous demand for improved access and liquidity to NDF pricing. In her global remit Louisa will play an instrumental role in helping bring international and local liquidity together.
James Watson, CEO of ADS Securities London Limited, said:
We are very pleased to welcome to Louisa to the team. At a time where increased market volatility is transforming the FX industry, ADS Securities has shown real vision and leadership by launching a truly unique Prime of Prime solution. Louisa will add an exceptional level of insight, support and service that will undoubtedly benefit our clients in Europe and around the world.
Louisa Kwok added:
The industry is all too aware that restrictions on access to credit lines is affecting growth in the global FX market. ADS’ Prime of Prime is a genuinely innovative solution to this problem. In addressing the market gap in credit intermediation facilities, ADS Securities has stepped up to play an important role in safeguarding the sustainability of the FX industry as a whole.
I look forward to working with our teams in London, Abu Dhabi and Hong Kong to promote our Prime of Prime offering to a global market that really needs to see changes like this if growth is to resume.
ADS Securities offers a range of FX, CFD and precious metal trading, as well as Global Market, Investment Banking, Wealth and Asset Management. It is headquartered in Abu Dhabi, and has offices in Hong Kong, Singapore and London.