The newly created position of UK CEO at Capital.com follows the recent temporary halt on the onboarding of new clients from the United Kingdom.
Capital.com has announced the appointment of Rupert Osborne as CEO of its UK FCA-authorized entity, Capital Com UK Limited.
Rupert Osborne will be responsible for all UK operations and will be tasked with setting the strategic direction for the business and overseeing all material controls.
The UK CEO responsibilities were previously undertaken by the Group CEO, Kypros Zoumidou, but the company decided to establish a standalone UK CEO role to better align with local client needs and market dynamics.
Rupert Osborne joined Capital.com from IG
Having joined Capital.com in June 2022, Rupert Osborne spent more than 15 years in trading and sales roles in the UK and US and was made an Executive Director at the start of the year.
After working on the dealing desk at IG for several years, he became Deputy Head of Dealing for FX and cryptocurrency products. In 2017, he was appointed as CEO of IG US, where he launched and gained regulatory approval for the firm, before growing it into a significant new competitor in the US FX market.
After 11 years at IG, Osborne briefly led Malta-licensed crypto exchange Koala Capital and offered consultancy services to Pepperstone before joining Capital.com in 2022.
Rupert’s appointment as UK CEO follows the recent appointment of Tarik Chebib as the CEO of Capital.com’s new Middle East operations. Based in Dubai, Tarik will oversee Capital Com MENA Securities Trading LLC (Capital Com MENA), which is authorised and regulated by the Securities and Commodities Authority (SCA). With these new regional CEO appointments, Capital.com aims to build strong local leadership teams empowered to drive growth and innovation in each market.
“Rupert will steer the business forward”
Rupert Osborne, CEO of Capital.com UK, said: “I am excited to step up to the role of UK CEO at Capital.com and lead a team of talented people. Together, we will build upon our many successes to deliver on the next stage of our strategy. By continuously enhancing our offering and forging strategic partnerships with like-minded innovators, we aim to deliver the best products and services to meet the exacting needs of our UK client base.”
Kypros Zoumidou, Group CEO of Capital.com, said: “I am delighted to announce Rupert’s appointment as CEO of Capital.com UK. As CEO of the UK operations, Rupert will steer the business forward while delivering the highest level of service to our clients in the UK. Rupert’s appointment reflects our dedication to staying at the forefront of our clients’ diverse needs while driving growth in step with local market changes, regulations, and best practices.”
Capital.com paused onboarding of UK clients
The newly created position of UK CEO at Capital.com follows the recent temporary halt on the onboarding of new clients from the United Kingdom. Prospective clients attempting to sign up on the platform were met with a message stating the company’s decision to pause new client registrations in the UK for the time being.
The message provided to those trying to sign up is clear: “We have made the decision to pause onboarding new clients in the UK for now. We have grown rapidly as a business and we want to make sure that all our systems, controls, products and services are provided to the high standards that are demanded by our clients, management, shareholder and regulators.”
Per its most recent reports, the UK business of Capital.com saw its operating revenue double to £29.1 million in FY 2022, up from £15.4 million a year ago.
In terms of its bottom line, the firm reported its net profit at a figure of £4.1 million for 2022, higher than £1.85 million in the previous year.
