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Abstract:Executive moves that dominated the week's news.
Now halfway through the month of November, we are witnessing the effects upon the crypto industry from the collapse of FTX. However, the hiring in the forex, crypto and fintech industry still continues nonetheless. Lets review the executives that have taken on new roles and challenges in our executive moves roundup of the week.
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Visa (NYSE: V) has named Ryan McInerney as the new Chief Executive Officer, replacing Alfred Kelly, effective from 1 February 2023. Kelly, now also the company's Chairman, will become the Executive Chairman of Visa.
The appointment for the apex management role came with an internal promotion as McInerney will be elevated from his current position of President. He joined Visa in 2013 and is responsible for overseeing its financial institutions, acquirers, merchants and partners.
Damian McDowell has stepped down from the role of Chief Executive Officer at Union Standard International Group Limited (previously known as USGFX).
According to a Companies House filing, McDowells appointment as a Director of the United Kingdom-based company ended on Wednesday. It means he will no longer remain in the apex management role of the company.
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IG Group, a prominent global financial trading and investment company, has announced its acquisition of Freetrade, a commission-free investment platform, for £160 million. The deal, funded through IG’s existing capital resources, marks a strategic move to expand its footprint in the United Kingdom.
Cinkciarz.pl, one of Central Europe’s largest currency exchange platforms, has made headlines after accusing major Polish banks of conspiring to undermine its operations. The company has threatened legal action amounting to 6.76 billion zlotys ($1.6 billion) in damages. However, the platform is now under intense scrutiny following allegations of fraud and the mismanagement of customer funds.
On December 11, 2024, a significant milestone was reached in the Philippines' financial sector as the Bangko Sentral ng Pilipinas (BSP) and the Japan International Cooperation Agency (JICA) officially signed the ‘Records of Discussion’ for the second phase of the Credit Risk Database (CRD) project. The ceremony at the BSP headquarters in Manila marked a pivotal moment in widening access to financing for small and medium enterprises (SMEs) across the country.
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