ITI Group Ltd. has appointed 30-year industry veteran Stephen Hawksworth as Group CEO to oversee the brokerage, proprietary trading, and market-making businesses.
Specialized in digital technologies, prime services, and wealth management, ITI Group looks to consolidate its presence, and build market share, in key global emerging markets.
Hawksworth has joined ITI Group from ED&F Man Capital Markets, where he was their European CEO and helped co-found and develop their global futures, FX, and securities brokerage businesses. Prior to that, he was CEO at Fimat Singapore and Head of Fixed Income and Equities at MF Global.
ITI Group is made up of four key branches: ITI Capital, ITI Funds, ITI Digital and ITI Tech. The group, whose majority stake belongs to DaVinci Capital, has recently made top hires, including the appointment of John Barker as Chairman of ITI Capital, and Nicholas Jordan and Patrick Martin as Non-Executive Directors of ITI Group, effective from December 2020.
Stephen Hawksworth, Group CEO, ITI Group commented:
“I am excited about the huge opportunity that we have at ITI and the potential of what we can all achieve together in the future; about being able to work with talented and dedicated people with a transformational agenda; and to be able to advance a shared ambition amongst us all to build a dynamic and market-leading financial services firm.”
Oleg Jelezko, Chairman of the Board for ITI Group, comments:
“We are thrilled to welcome Stephen Hawksworth as our new Group CEO. We have exciting plans and announcements in store for the coming months and have onboarded Mr Hawksworth due to his innate ability and extensive experience in leading ambitious growth and development initiatives in the finance sector.”
ITI Capital was founded in 1994 and has grown to become a multi-asset execution provider to its over 46,000 clients around the globe. With 220 employees and presence in the UK, Guernsey, Qatar, Cyprus, Russia, and Kazakhstan, ITI Capital is authorized and regulated in the United Kingdom by the Financial Conduct Authority (FCA).
In 2020, ITI Capital made the headlines after buying the client book from failed SVS Securities to unlock £240m in funds for the 18,000 investors transferring across to the new broker. The firm, however, was unable to process withdrawals for almost a year.
Many clients were left in limbo with no communication from ITI. An ITI Capital spokesperson told FTAdviser that the issues “were largely due to unforeseen circumstances caused by the Covid-19 outbreak.
“Our team has been working around the clock and has already resolved these technical issues, as well as increasing our back-office resources. We would like to reassure customers that any concerns will be swiftly addressed and service will now resume as normal.”
In 2020, the UK based global brokerage firm which catered to institutional investors and professional clients appointed Leonardo Brummas Carvalho to serve in the roles of Co- Chief Executive of the group and Chief Executive Officer for its Wealth Management division. Leonardo’s addition to the team was personally made by Group Chairman Oleg Jelezko.
The co-head of the group is a veteran in financial services industry with more than two decades of experience serving under leading financial service providers. Most recently, he served in the role of head of emerging Europe London division at Credit Suisse prior to which he served in the same firm as Chief Executive Officer and Country Manager for CS Panama region.
In 2018, ITI Capital deployed Torstone Technology’s post-trade processing platform, Inferno, in order to manage its growing institutional business, with a view to growing other capital market business lines.