Britannia Capital Markets Limited stands as a broker regulated by the Financial Conduct Authority, or FCA. The broker, formerly known as Destek Markets, had officially announced that it would appoint one Richard Maguire as the FX Prime Manager of Britannia Capital Markets.
Maguire updated the public information within his Linkedin profile, revealing that he had officially taken the role’s responsibilities at the start of this month.
Serving The Prime Manager For FX
Richard is no greenhorn, either, as the man had spent close to six years within the IS Prime UK broker before joining up with Britannica afterward. In particular, he had served IS Prime by way of the Head of Institutional Sales position.
IS Prime itself stands as part of the ISAM Capital Markets Group, and operates a prime of prime business. ISAM itself is, in turn, owned by International Standard Asset Management, a hedge fund based in London. The aforementioned Group offers everything from prime of prime, liquidity aggregation, non-fx liquidity, as well as agency execution.
As for Richard’s role within Britannica, he will prioritize the further development of the firm’s prime of prime brokerage’s growing sales. Alongside this, he will manage client acquisition and technology sales, as well.
It was back in 2017 when the FCA company made its debut, establishing itself as a retail broker back in 2017. However, Britannica Financial Group Limited had acquired the company in 2018, with the takeover allowing Britannica to open its doors to institutional and professional clients as well.
Starting Out As Derivative Trader
Maguire’s lengthy career even includes a small stint at Alpari (UK) Ltd, measuring some three years in total. The defunct FX broker had closed its doors just after the man had left, as the Alpari (UK) was rendered insolvent thanks to the black swan event of SNB.
As for when he officially started his career, that occurred back in 2008 with SVS securities. His first position in the financial arena was as a derivatives trader, with a predominant prioritizing of short-term market movements for clients. In particular, his focus was to capitalize on these movements by way of CFD products.
Big Plans For Business
Hiring Maguire is a very clear move built to boost the bottom-line sales within the operations of Britannia. Alongside this, Britannia is aiming to expand its operations through Maguire while it tries to build its market share. As it stands now, Maguire will handle the forwards, spot, and options section of corporate and institutional accounts.
Time will tell how successful a move this will be, but the probability is high that Maguire and Britannia will have a very fruitful relationship.