IC Markets New Global Head of Risk: Vasilis Sotiriou

Australia-based institutional broker 26 Degrees has experienced the departure of another senior executive from its Cyprus office. Vasilis Sotiriou, the company’s Chief Risk Officer EMEA, has left to rejoin IC Markets as their Global Head of Risk. Sotiriou will work out of IC Markets’ Cyprus office, marking his return to the firm after previously working there between 2017 and 2020.

Sotiriou initially joined 26 Degrees, then known as Invast Global, in 2021 as the Head of Risk Management. His expertise in the field quickly earned him the role of Chief Risk Officer at EMEA earlier this year. Before his time with 26 Degrees, Sotiriou held positions at IC Markets EU, including Senior Dealer and Group Risk Manager.

IC Markets New Global Head of Risk: Vasilis Sotiriou

Sotiriou’s departure is part of a broader trend of senior exits from the Cyprus branch of 26 Degrees. Other recent departures include Lochlan White, who moved to Scope Prime as Chief Commercial Officer, and Riana Chaili, the CEO of 26 Degrees Cyprus, who has taken a new role at prop trading firm FTMO.

The ongoing shifts in the company’s leadership raise questions about the potential impact on 26 Degrees’ operations, particularly in the competitive institutional brokerage market. However, with a strong track record and experienced staff remaining, the company will likely continue to navigate the challenges of a dynamic financial services industry.

The departure of Sotiriou, who has played a key role in risk management, adds to a growing list of executive changes at 26 Degrees. It remains to be seen how these shifts will affect the firm’s strategic direction, but the industry will be watching closely as the company adapts to the evolving market landscape.

Company Overview

IC Markets stands as a prominent online brokerage established in 2007, serving both retail and institutional traders with a comprehensive array of trading solutions. With an extensive range of tradable instruments encompassing forex, commodities, indices, bonds, stocks, and futures, the broker caters to diverse investment needs. The platform extends support for multiple trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader, all available in web-based and mobile iterations compatible with Android and iOS devices. Furthermore, IC Markets clients benefit from a complimentary demo account featuring virtual funds, enabling them to simulate real market conditions and hone their trading skills before engaging in live trading activities.

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