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Mr. Hawksworth joins ITI Group from ED&F Man Capital Markets. There, he led the European operation as Chief Government Officer and co-founded the agency’s world futures, FX, and securities brokerage companies.
ITI Group has employed Stephen Hawksworth as Chief Government Officer. The 30-year trade veteran can be given the mission of consolidating its presence and construct market share, in key world rising markets.
Mr. Hawksworth joins ITI Group two years after resigning from ED&F Man Capital Markets. There, he led the European operation as Chief Government Officer and co-founded the agency’s world futures, FX, and securities brokerage companies.
Throughout his lengthy profession within the monetary providers trade, he additionally led Fimat Singapore as CEO and was Head of Fastened Earnings and Equities at MF International.
“I’m excited concerning the big alternative that now we have at ITI and the potential of what we will all obtain collectively sooner or later; about with the ability to work with gifted and devoted individuals with a transformational agenda; and to have the ability to advance a shared ambition amongst us all to construct a dynamic and market-leading monetary providers agency”, mentioned Stephen Hawksworth, Group CEO at ITI Group.
Made up of 4 key branches (ITI Capital, ITI Funds, ITI Digital and ITI Tech), ITI Group has not too long ago appointed John Barker as Chairman of ITI Capital, and Nicholas Jordan and Patrick Martin as Non-Government Administrators of ITI Group, efficient from December 2020.
Oleg Jelezko, Chairman of the Board for ITI Group, mentioned: “We’re thrilled to welcome Stephen Hawksworth as our new Group CEO. We’ve thrilling plans and bulletins in retailer for the approaching months and have onboarded Mr. Hawksworth attributable to his innate capacity and in depth expertise in main formidable progress and growth initiatives within the finance sector.”
In 2020, ITI Capital made the headlines for buying the purchasers of failed fund SVS Securities. On the time, SVS purchasers had been instructed their cash can be transferred to ITI, aside from:
- Shoppers owing excellent quantities to SVS which haven’t been paid previous to the switch date June 11, 2020;
- Shoppers not eligible for FSCS compensation who haven’t paid the prices attributable to their shopper property and/or shopper cash previous to the switch date (11 June 2020);
- Any shopper topic to a freezing order or different sanctions restrictions;
- FX Elective Skilled Shoppers.
FSCS will pay compensation of as much as £85,000 in respect of the whole liabilities that is perhaps owed to prospects by SVS.
As FinanceFeeds reported, the ultimate phrases of the Distribution Plan and the Consumer Cash order had been authorised by the Courtroom on Might 7, 2020. The approval is a vital milestone in returning Consumer Belongings and Consumer Cash.
As per the report issued by the Directors in February 2020, ITI Capital has secured shopper cash of roughly £24.9 million, in full, from throughout 20 pre-appointment financial institution accounts.
The Directors initially estimated that SVS Securities had roughly 21,000 purchasers. Nevertheless, after conducting additional evaluation on the shopper and account base that’s held throughout three completely different IT platforms, the Directors recognized plenty of purchasers holding a number of accounts with the corporate.
This additional evaluation has recognized roughly 19,200 distinctive purchasers. The custody property and shopper cash are held by a combination of execution solely, discretionary and FX purchasers.
As at August 5, 2019, SVS’s account base comprised 14,855 fairness accounts (together with 773 discretionary accounts), 10 prime dealer accounts and 6,547 FX accounts.
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