FX brokerage firm Admirals (formerly Admiral Markets) is parting ways with its long-serving executive Jens Chrzanowski, a member of the Group management board .
For nearly twelve years, Chrzanowski has been tasked with leading Admirals’ operations across its European core markets, including Germany, Austria, Switzerland, and the Netherland. He originally joined the firm in 2011.
During this long stint, Chrzanowski worked his way up through several senior roles with the firm, culminating with the position of chief value officer. His role was to ensure that all relevant aspects of value creation and destruction are accounted for and communicated to boards, management and external stakeholders.
The CEO of Admirals Group AS Sergei Bogatenkov said that Jens Chrzanowski has had an important role in the company’s success and global position.
“I am very sorry to see Jens Chrzanowski go, but I completely understand his desire to move on after working together for many years. Germany is our most successful market, where we have been known as a quality leader in the sector for many years, and Jens has an extremely important role in this. He is a great team player with whom we have secured our successful presence in the financial world and built a strong FinTech brand. I wish him all the best in taking on new challenges,” he added.
Admirals is licensed by the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). The regulatory approvals allow the brokerage firm to offer a set of financial services and also approved to provide cross-border services across the EU / EEA under European passport rights. The company maintains its core offices are in Estonia, Jordan, Cyprus, Malaysia and UK.
Earlier this year, Admirals reported its financial results which showed a net revenue of €35.7 million. The figure was down by nearly 43 percent year-over-year from €62 million in 2020.
Meanwhile, the bottom line figure shows that Admirals barely broke even in the year just ended. The company reported a net profit at €0.1 million in the 12 months through December 2021, compared with a net profit of €20.7 million it earned in the year prior.
Number of active clients was virtually unchanged compared to the previous year, coming in at 49,080 clients, but doubled compared to the same period in 2019.