FX brokerage firm Admirals (formerly Admiral Markets) is parting ways with its long-serving executive Roman Krutyanskiy, a member of the group management board .
For more than eleven years, Krutyanskiy has been tasked with leading Admirals’ operations across its European core markets, including Germany. He originally joined the firm in 2011.
During this long stint, Krutyanskiy worked his way up through several senior roles with the firm, culminating with the position of chief sales and service officer. His role was to manage two departments with over 160 employees in several countries. He was also tasked with creating and delivery of the strategy plan on sales activities as well as client service matters.
As a member of the management board, Krutyanskiy was responsible for the strategic decisions and development of the company. He previously spent a four-year tenure as country manager of Admirals Germany for four years between January 2017 and December 2020.
The CEO of Admirals Group AS Sergei Bogatenkov said that Krutyanskiy has had an important role in the company’s success and global position. Earlier in September, he took over the leadership of the German office as managing director, replacing Jens Chrzanowski, who joined X-Trade Brokers’ (XTB) German branch.
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.
Admirals had seen noticeable gains in its financial figures in 2022. In August, the company disclosed a net operating revenue of €43 million compared to just €35.7 million for the entire 2021. The figure was also up by nearly 150 percent year-over-year from €17.3 million in 2021.
Also, Admiral Markets saw its operating expenses tick down in the 2022, after seeing a figure of €10 million – this was down 9 percent year-over-year from €10.9 million in 2021. Marketing expenses, which accounted for 35 percent of total operating costs in the first half, decreased 25 percent year-on-year and reached €3.5 million by the end of June 2022.
Meanwhile, the bottom line figure shows that Admirals’ EBITDA and net profit were €24.3 million and €23.3 million, respectively. In 2021, the company barely broke even with a net profit at €0.1 million in the 12 months through December 2021.