Abstract：FNG has learned that FCA regulated Retail FX and CFDs broker TIO Markets has hired Simon Quirke, as the company’s new CEO.
Simon Quirke was most recently (2018-2021) CEO of USGFX UK, the FCA regulated arm of the USG Group, which in mid 2020 saw the bankruptcy of its core Australia based operation USGFX Australia. We had also reported exclusively last June that Simon Quirke had left USGFX-UK.
Mr. Quirke effectively takes the place at TIO Markets of its former longtime CEO Damian McDowell. Interestingly, Damian McDowell took Mr. Quirkes old job when he joined USGFX-UK back in August.
TIO Markets operates both an onshore, FCA regulated business and an offshore unit based in Saint Vincent and the Grenadines. While Simon Quirke will be based in the UK, most of the companys functions are run from Cyprus. The company is controlled by Malaysian businessman Manmohan Singh Balbir Singh, who also owns Cyprus based Retail FX broker FXPrimus.
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