The Cyprus-based operator of Markets.com has appointed Andreas Kyriacou as the new Managing Director and CEO, days after Stavros Anastasiou's departure as the CEO of the Markets.com Group. Kyriacou confirmed to FinanceMagnates.com that he oversees only the Cyprus entity, Safecap Investments, which operates the brokerage brand.

Apart from its Cyprus-based operations, Markets.com holds regulatory authorisations in South Africa and St Vincent and the Grenadines. It remains unclear who will be heading the non-Cyprus entities following Anastasiou's exit.

Despite Kyriacou's latest appointment he is not filling the shoes of Anastasiou, whose replacement as the CEO of Markets.com Group is yet to be named.

Steering Markets.com’s Cyprus Operations

As Managing Director, Kyriacou is responsible for providing strategic leadership, overseeing overall business operations, and ensuring the company’s objectives align with regulatory standards and stakeholder expectations.

According to his LinkedIn profile, Kyriacou joined the Cypriot operator of Markets.com last December. Prior to that, he held positions at FXGlobe and IronFX.

He is a Chartered Accountant, qualified through the Institute of Chartered Accountants in England and Wales (ICAEW), UK. He explained to FinanceMagnates.com that his expertise includes financial reporting and analysis, regulatory compliance, tax planning and structuring, auditing, and risk management.

Before entering the retail trading industry, he began his career at PwC Cyprus.

An Exit Creates an Opportunity

FinanceMagnates.com earlier this week reported that Anastasiou stepped down as the CEO of Markets.com Group. He assumed the top role at the retail broker brand after Hong Kong-based Gopher Investments acquired it in 2022, which also bought Markets.com's B2B sister brand, Finalto.

Gopher bought Finalto from Playtech in a $250 million cash deal.

Meanwhile, Markets.com has been expanding its offerings over the years. Last year, TradingView announced the addition of Markets.com to its platform. The company also collaborated with Worldpay to manage global payments processing and fund disbursements.

Source: Finance Magnates