Michael Davies has been appointed global head of sales at Stater Global Markets, joining after over 14 years at Sucden Financial where he was head of e-FX sales EMEA.
Stater says the newly created role is “a major development” for the FCA-regulated prime of prime brokerage, following its announcement that it plans to build a sales function. The firm has also appointed Max Moriarty to an EMEA sales role, reporting to Davies.
Davies joined Sucden Financial in 2004 as a research analyst before becoming head of research in 2007. Following a two-year period as manager of corporate strategy and business development, he joined the e-FX team in institutional sales in 2011 and was promoted to head of e-FX sales EMEA in April 2016.
“Michael’s appointment is a significant milestone for Stater – he is a well-respected and knowledgeable senior sales person with an extremely versatile skillset and brings a wealth of institutional insight to Stater,” says Ramy Soliman, CEO, Stater Global Markets. “We are thrilled he is joining. This appointment highlights our underlying ambition for Stater Global Markets as we continue to invest in the business and expand globally.”
Davies adds, “After almost 15 years at Sucden Financial, helping them grow from being an unknown in FX PB to a well-respected firm trading yards and yards a day, I felt like I needed a new challenge. Stater presented me with the ideal opportunity – a global role in a young, dynamic, ambitious firm, which has FX at its core and is eagerly looking at complimentary products like crypto CFDs.
“Stater Global Markets fits my ethos of exactly what an ethical FX prime of prime brokerage should be; working for their client, not against them,” Davies continues. “There are key conflicts of interest with many prime of primes, whether it be competing with their clients for business, trading against their clients to profit from their losses, or being owned by a liquidity provider. I am not comfortable with this mode of operating and feel that Stater, which has no inherent conflict of interest, stands out in this industry. Its independence, the calibre of its team – from the shareholders to senior management – and the impressive speed at which it has been able to implement institutional grade technology to provide credible liquidity solutions in both NY4 and LD4, all make this an exciting opportunity for me.”