Monex Europe and Moscow Exchange Sees Senior Level Managerial Exits

Monex Europe’s Group Sales Director William Tracey Steps Down

Monex Group’s co-founder and Group Sales Director of Monex Europe, William Tracey has stepped down from the position as the director of the firm. The move was announced via the regulatory filing by the company with the UK Companies House.

William Tracey
William Tracey

The filing stated Tracey stepped down from the position as a Director on 1st April and as per reports, Tracey’s decision to step down was completely due to personal reasons.

Nick Edgeley, the Managing Director of Monex Europe who co-founded the company with Tracey and Shelton Fray said: “We would like to thank Will for his remarkable contributions and being part of making Monex Europe the success that it is today. “Will shall always retain close ties to Monex, but after 13 years in Foreign Exchange, he has chosen to take a step back to spend more time with his young family and to pursue other business interests. We wish Will the very best of luck for the future.”

MOEX Supervisory Board Appoints Yury Denisov as the next CEO of the Exchange, Replacing Alexander Afanasiev

The Moscow Exchange’s Supervisory Board has announced that Alexander Afanasiev, the current CEO of the exchange will step down from his role and his last date as a CEO is 15th May 2019.

Yuriy Denisov
Yuriy Denisov

The Board has taken the decision on the basis of best corporate governance practices, which has engaged in a succession planning process over the last year. The Board has also recommended the appointment of Yury Denisov as the next CEO which is subject to approval from the Bank of Russia.

Oleg Viyugin, Chairman of the Moscow Exchange Supervisory Board, said: “Moscow Exchange has completed the implementation of its current five-year strategy – the backbone for substantial growth of the company’s business – ahead of schedule. Future growth of shareholder value will be driven by the implementation of the new strategy, which the Supervisory Board initiated in 2018 and which is designed to create qualitatively and technologically new infrastructure services for the Russian financial market. At the same time, the Board has also completed a search for a new CEO, who will oversee the finalization and implementation of the new strategy. We plan to approve and present MOEX’s new strategy to shareholders and clients in the next few months.”

“Yury Denisov has served on the Exchange’s Supervisory Board for ten years, and chairs the Supervisory Board of the National Clearing Centre (NCC). He has played a critical role in the work of the Exchange’s supervisory bodies, and been instrumental in developing the new strategy; he also possesses deep financial markets expertise and has a firm grasp of the Exchange’s work and the needs of its clients. We believe that he is a leader fully capable of guiding the Moscow Exchange team toward the continued growth of the business.”