Online Forex Broker Tadawul FX Ltd Restructures Executive Management Team to aid Expansion

News provided by

Sep 14, 2010, 09:02 ET

LIMASSOL, Cyprus, September 14, 2010 /PRNewswire/ -- Further to the recent introduction of new services and expansion into new markets such as Hungary, online forex broker Tadawul FX continues to grow. In order to focus on growth of the international operation of the company, the core executive management team has been restructured. Stavros Yiannakou, previously Chief Operations Officer, now takes over as CEO of this fast growing brokerage firm with an established reputation for superior customer service.

After yet another year of growth, online forex broker Tadawul FX, also known as TDFX, is now pleased to announce the restructuring of its executive team in order to meet the demands of the business on an international level. As the number of traders increases across several markets and regions, the team at TDFX want to be ready for the challenge of growing whilst still maintaining a focus on client service and support.

Stavros Yiannakou, a Cyprus born UK graduate with a wealth of finance experience, joined the team in 2009 as Chief Operations Officer. Yiannakou's experience as the Head of Global FX Risk with Marfin Laiki Bank allowed him to quickly have an impact on the Tadawul FX Ltd business and showcase his capabilities with regards to financial analysis and administration of the treasury departments. Stavros's input was also instrumental in the spearheading of changes in operational procedures to bring about efficiency and more effective operational risk management for the company.

As result of this, Yiannakou is now being appointed as CEO of the company, whilst former CEO and co-founder of Tadawul FX, Ramzi Chamat, is moving to the role of Executive Chairman. These key managerial changes are being made in order to free up the co-founders' time so that they may focus less on day to day management and operational responsibilities, and to concentrate time and efforts into growing the international operations of the company.

Yiannakou, now newly-appointed CEO, says of the changes: "For some time now, we have been seeing that expansion on an international level is a priority. We have many new opportunities and expressions of interest to consider, but at TDFX, we know that in order to properly develop our presence in a specific region requires a dedicated effort and investment into local learning and understanding. These structural changes will now allow me to take total responsibility for the ongoing management of the company, whilst allowing our founding members to focus solely on developing our international expansion in order to continue to broaden our reach and client base at Tadawul FX."

Ramzi Chamat, previously CEO and now Executive Chairman as well as co-founder of the company, says, "As Tadawul FX moves from strength to strength, we have built up our international client base slowly as we do not wish to rush and fail where others have failed before us. Growing international operations for TDFX is a major project and it is important that each country and region is given due attention. Also timing is everything. Stavros has shown he is more than capable of assuming the reins at TDFX in the CEO role. His experience was one of the reasons he was brought on board, and his influence on the company has been apparent to all. This now means that myself and our other co-founders can begin to utilise our time, network and resources more effectively into fuelling expansion of TDFX, whilst ensuring that our customers and traders continue to enjoy the very same high level of service and support which has brought about our impressive growth in the first place."

Contact: http://www.tadawulfx.com - email [email protected] - Tel +357-25200900

SOURCE Tadawul FX