Sova Capital’s Clifford-Newman Joins StoneX as SVP, Prime Services Sales ⋅ Crypto World Echo
StoneX Group has
appointed Gary Clifford-Newman, the former Director of Prime Services Sales at
Sova Capital, as its Senior Vice President (SVP) of Prime Services Sales.
Clifford-Newman announced his appointment at the financial services company on
Monday on LinkedIn.
Clifford-Newman’s
Prime Services Sales Career
The executive, who
brings over a decade to the new role, worked for UK-based wholesale broker Sova
Capital for over four years and a half. He served as the company’s Vice
President (VP) of Prime Services Sales between 2018 and 2021. He was appointed
the Director of Prime Services Sales in 2021— a position Clifford-Newman held until this new appointment at StoneX Group.
Before joining Sova
Captial, Clifford-Newmann also served as the Vice President of Prime Services
Sales at Linear Investments. He also doubled as the VP of Relationship
Managment at the company where he worked for over three years between July 2015
and August 2018. Furthermore, he held
Associates roles at two companies between July 2009 and June 2015. While he was
a Business and Relationship Management Associate at KCG Holdings, he worked as a Global Fund Services Relationship Management Associate at Northern Trust Corporation.
StoneX Recent Hires
In recent months,
subsidiaries of StoneX Group, whose services cut across commercial hedging,
global payments, securities, physical commodities, foreign exchange and
clearing and execution services (CES), have made some hires and promotions.
Last month StoneX
Digital, the digital asset unit of StoneX, and StoneX Global Payments, the
company’s unit that specializes in cross-border payments to developing
countries, hired Matthew Ardizzone as the Managing
Director of Digital Asset and SWIFT’s Edward Phelps as its Head of Sales
Strategy, respectively.
Meanwhile, StoneX
Group, which owns Forex.com and City Index, recently reported a
dull first quarter 2023 for its forex and CFDs business as revenue declined by 32% year-over-year to $48.8 million.
However, institutional FX contracts revenue on StoneX surged by 74% to $9.2
million, with a 24% increase in FX average daily volume.
We are pleased to report Fiscal 2023 Q1 Earnings”We achieved very strong results in the fiscal first quarter 2023, delivering increases in operating revenues and net income, which resulted in a diluted EPS of $3.62 and an ROE of 27.3%” – Sean O’Connorhttps://t.co/qKwHBKxT5e pic.twitter.com/oC5Z6h7ZAO
— StoneX Group Inc. (@StoneX_Official) February 8, 2023
In a different
development, the National Futures Association recently hit StoneX Markets, another subsidiary
of StoneX Group, with a fine of $1 million for multiple changes of compliance
violations.
This article was written by Solomon Oladipupo at www.financemagnates.com.
