Margin trading brokerage Capital.com has announced some changes to its senior management lineup.
What changes has Capital.com announced?
Capital.com has announced some changes to its senior management lineup with news that industry veteran Peter Hetherington is to step down as Group CEO effective immediately.
Capital.com’s Chief Commercial Officer, Kypros Zoumidou moves into the vacant CEO role with Peter Hetherington set to stay on as a strategic adviser to the company until 2026.
The move came as a surprise to industry observers given that Mr Hetherington seemed to have been lured out of retirement to take on the top job at Capital.com in May 2022.
Following a 24-year career at IG Group, and a shorter stint at Schroders Personal Wealth, where he was said to be frustrated by the slow pace of change.
What have Capital.com said about the surprise change in personnel?
Capital.com Founder, Victor Prokopenya, said:
“On behalf of the entire Board, I would like to thank Peter, whose transformational leadership has been the driving force behind Capital.com. Guided by his vision and the execution of his strategic roadmap, he has rapidly led Capital.com to its next stage of growth and laid a solid foundation for his successor to build on.”
Kypros Zoumidou, the new incoming Group CEO, said:
“I am very pleased to step up to the role of Group CEO of Capital.com. Having worked alongside Peter for over a decade, most recently at Capital.com, we were able to align our goals and mission quickly. I aim to build on Peter’s success and bring further growth to the solid base we have built. I look forward to working closely with our talented global team who will help me drive our business forward.”
For his part, Peter Hetherington said:
“Having successfully implemented robust processes, and procedures and improved the Group’s operational performance, Capital.com is well placed for future growth. I have full confidence in Kyp’s ability to lead the team and drive future growth.”
What next for Peter Hetherington?
Will Peter Hetherington go back to his retirement? After all, he is one of the most experienced and knowledgeable executives in the world of margin trading and Spread Betting. Experience that’s not that easy to come by. Or, might he be tempted back into the industry in which several of his IG alumni hold senior roles around the globe?