Crypto.com has hired Nicolò Pagliari as Global VP of Growth and Media, marking another high-profile departure from the traditional CFD brokerage sector as cryptocurrency exchanges and prop trading firms continue to attract seasoned financial services executives.

Pagliari Joins Crypto.com From Saxo in Latest Industry Defection

Pagliari spent seven years at Danish investment bank Saxo Bank, most recently serving as Head of Marketing for Asia and Pacific. His move to the Singapore-based crypto exchange adds to a pattern of talent migration that's reshaping the competitive landscape between traditional brokers and digital asset platforms.

“It took one of those opportunities that you can't say no to, in order to take the leap and move onwards,” Pagliari wrote in a LinkedIn post announcing his departure from Saxo Bank.

The hire comes as Crypto.com pushes deeper into traditional financial products. The company recently appointed former IG Group CEO Kevin Algeo as Senior Vice President of Capital Markets and acquired Cyprus-based broker Allnew Investments Ltd to secure a MiFID license for European operations.

Attracting a strong CMO in the CFD industry is becoming increasingly difficult due to rising competition. According to a recent study by FYI, 40% of brokers currently have a vacant position after parting ways with their marketing chiefs or losing them to competitors.

Broader Industry Shift

Pagliari's move reflects a wider trend of CFD industry veterans gravitating toward cryptocurrency exchanges and proprietary trading firms. The migration has accelerated as crypto platforms expand their product offerings and prop firms gain market share.

The talent flow isn't limited to crypto exchanges. Proprietary trading firms are also entering the brokerage space and recruiting CFD veterans to lead their expansion efforts. Michael Kamerman was appointed CEO of FTMO's brokerage division, while Riana Chaili joined as Chief Operating Officer after stints at IC Markets and TechFinancials.

Other moves include Yassin Mismar, former SVP of Sales at Equiti Group, joining prop firm FundingPips as Head of Sales and Retention. Zoltan Nemeth left ZuluTrade to become Head of Business Development at FunderPro, while Andreas Andreou departed BDSwiss to co-found thePropTrade.com.

Crypto Platforms Expand Traditional Offerings

Crypto.com's hiring spree coincides with its push into conventional financial products. The company plans to launch CFD offerings for forex and other markets in Q3 2025, following its acquisition of the MiFID-licensed broker.

“His extensive experience in financial services and regulated markets will be instrumental in our mission to build a full-service and fully regulated suite of financial products for users,” said Eric Anziani, President and Chief Operating Officer at Crypto.com, referring to the Algeo appointment.

The strategy mirrors moves by other major crypto exchanges. Kraken launched regulated derivatives trading under MiFID II rules through its Payward Europe Digital Solutions subsidiary, while Coinbase acquired derivatives exchange Deribit to strengthen its market position.

Regulatory Arbitrage

The talent migration reflects broader structural changes in the retail trading industry. Crypto exchanges are acquiring regulated entities to bypass lengthy licensing processes, while prop firms benefit from less stringent regulatory requirements compared to traditional brokers.

CFD brokers face increasing regulatory pressure across major markets, including leverage restrictions and marketing limitations. Meanwhile, crypto platforms and prop firms offer executives the opportunity to work in faster-growing segments with fewer regulatory constraints.

Pagliari will be based in Singapore and lead user acquisition efforts globally for Crypto.com, which claims over 140 million customers worldwide. His role includes campaign development, team leadership, and media partnerships across international markets.

The executive exodus from traditional CFD brokers shows no signs of slowing as crypto exchanges continue expanding their product suites and prop firms gain mainstream acceptance among retail traders.