FCA-regulated broker Britannia Capital Markets Limited (formerly Destek Markets) has made its latest appointment, naming Richard Maguire as its FX Prime Manager. According to information made public on his Linkedin profile, Maguire has assumed his new role effective this month.
Prior to Britannia, Richard spent nearly six years at UK broker IS Prime, where he was head of Institutional Sales. The latter is part of the ISAM Capital Markets Group, and operates a prime of prime business owned by the London-based hedge fund International Standard Asset Management. The group offers liquidity aggregation, prime of prime, agency execution and non-fx liquidity.
Richard will be focused on further developing the global sales of Britannia’s growing prime of prime brokerage, as well as technology sales and client acquisition. The FCA-regulated company was originally established as a retail broker back in 2017, but was acquired in 2018 by Britannia Financial Group Limited. The takeover allowed Britannia to open up more professional and institutional business while keeping the retail side of the business.
Maguire’s career also includes a three-year stint at Alpari (UK) Ltd and left just as the defunct FX broker closed its doors after became insolvent following the SNB’s black swan.
He officially started his career as a derivative trader with SVS Securities in 2008, focused predominantly on trading short term market movements using the CFD product for clients. Other stops include working as head of derivative trading at Daniel Stewart.
The move to hire Maguire is clearly intended to boost bottom-line sales and expand the reach of Britannia’s operations as it continues to build market share. For FX, this will include currency spot, forwards, and options to institutional and corporate accounts.
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