OANDA promotes Mark Chesterman to chief risk officer

FX brokerage firm OANDA has strengthened its operations with the promotion of Mark Chesterman as its new chief risk officer.

Mark Chesterman

With an extensive background in foreign exchange markets, Mark joined OANDA in 2019 as head of trading, responsible for leading the global trading team, quantitative analytics and research groups from the firm’s London office.

In his new role, Mark will work with the executive team with responsibility for administering OANDA’s risk management framework including the exposure management and capital modelling functions across the group. With nearly 14 years of experience, he joins in a key senior management role, bringing a hands-on approach to international risk management.

Before joining OANDA, Chesterman spent the bulk of his career with IG Markets. During a 10-year tenure, he held a variety of positions at Europe’s biggest spread better including Head of FX and Futures. However, most recently he served as Chief Operating Officer with Stater Global Markets.

Mark holds an Executive MBA and a Masters in Finance from London Business School.

OANDA is a multi-regulated broker with offices in Toronto, Europe and the Asia Pacific region. The ‎company operates an FX trading platform utilized by a mix of retail and institutional investors. ‎Moreover, it provides currency information services to individuals, large corporations and portfolio ‎managers.‎

OANDA has been ratcheting up its preparation for Britain’s exit from the Europe Union. Earlier in 2020, the multi-regulated broker secured the regulatory approval for its new European subsidiary in Malta. Working under the brand ‘OANDA Europe Markets (OEM)’, the new entity is licensed by the Malta Financial Services Authority.

OANDA also acquired Polish broker Dom Maklerski TMS Brokers SA, aka TMS Brokers, to grow across the Baltic countries. Established in 1997, TMS is the oldest and second-largest local Polish brokerage and is regulated under the Polish Financial Supervision Authority (KNF), giving the business access to markets in the European Union.

At the time, OANDA signaled that it may close more of such deals, with the company stating that TMS is the first in a number of strategic acquisitions OANDA is looking to complete over the next couple of years.

Under Bambury’s leadership, the firm has undergone a transformative change in its operational configuration, widening its product offering and increasing its marketing investment in order to drive further growth.