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<p>IG Group (LON: IGG), one of the largest retail brokerage firms, is strengthening its operations in Europe with the latest appointment of Tobias Stöhr as the Head of Sales for Germany.</p><p>According to his Linkedin profile, Stöhr has joined the brokerage group's German unit, IG Europe GmbH, this month and is based in Frankfurt.</p><p>He joined the London-headquartered broker from retail securitized derivatives trading Spectrum Markets, another independent unit of <a href="https://www.financemagnates.com/tag/ig-group/" target="_blank">IG</a>. There, he was a Sales Executive for three-and-a-half years.</p><p>Prior to that, he spent almost 12 years with Börse Stuttgart, one of the largest German stock exchanges. He left that organization from the role of Senior Sales Institutional Clients.</p><p>Executive Changes in German Brokers</p><p>Though IG has a major presence, it is not the only retail brokerage with German operations to make changes in executive roles. </p><p>Jens Chrzanowski recently left Admiral Markets, where he was the Regional Director of Germany, Austria, Swiss and the Netherlands for 11 long years, to take up a new role as the <a href="https://www.financemagnates.com/executives/jens-chrzanowski-takes-over-xtb-germany-from-eliza-dygutowicz/" target="_blank">Director of XTB's German branch</a>. To fill the gap created by Chrzanowski, Admiral Markets onboarded <a href="https://www.financemagnates.com/executives/exclusive-roman-krutyanskiy-to-step-in-as-md-of-admirals-in-germany/" target="_blank">Roman Krutyanskiy</a> as the Managing Director in Germany.</p><p>Developments at IG</p><p>Meanwhile, IG strengthened its leadership with the hiring of <a href="https://www.financemagnates.com/executives/moves/glen-hastings-joins-ig-group-as-institutional-sales-manager/" target="_blank">Glen Hastings</a> as Institutional Sales Manager last month. In addition, it onboarded <a href="https://www.financemagnates.com/executives/moves/robert-van-eyden-joins-ig-markets-south-africa-as-ceo/" target="_blank">Robert van Eyden</a> as the South African CEO and promoted <a href="https://www.financemagnates.com/executives/moves/ntombizodwa-jila-becomes-compliance-executive-at-ig/" target="_blank">Ntombizodwa Jila</a> as the Compliance Executive, along with several other key appointments in recent months.</p><p>Additionally, the broker continued to generate massive profits as it confirmed its FY22 performance. Its <a href="https://www.financemagnates.com/forex/brokers/ig-groups-net-trading-revenue-jumps-16-in-fy22/" target="_blank">revenue for the period</a> jumped by 16 percent with a pre-tax profit of £477 million. Furthermore, the broker launched a £150 million share buyback program to reduce the share capital.</p>

This article was written by Arnab Shome at www.financemagnates.com.