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<p class="text-align-justify">Zenfinex, a London-headquartered forex and contract for difference (CFD) broker, has hired Alexandros Kritiotis as its Global Chief Operating Officer.</p><p>Kritiotis, who has over 14 years of financial industry experience, announced the appointment on Wednesday in an update to his LinkedIn profile.</p><p>However, the executive's profile shows that he resumed duty earlier in August.  </p><p>He oversees Zenfinex's operations across countries, from Cyprus, the United Kingdom, to Lebanon, and the United Arab Emirates.</p><p>Kritiotis was previously the Chief Executive Officer of Bulgaria-based StocksTech, a digital investment platform provider, and he worked from the firm's Cyprus office.</p><p>Before StocksTech, he was the CEO of the Cyprus subsidiary of <a href="https://www.financemagnates.com/terms/f/forex/" target="_blank" id="6faa6714-7f7b-4d23-b1c5-c0d40807d613_2" class="terms__main-term">forex</a> and CFD broker, Blackwell Global, where he worked for over six years.</p><p>Between September 2007 and February 2008, he was a Junior Tax Consultant at Deloitte, a London-headquartered business consulting and professional services network.</p><p>Recent Appointments in Zenfinix</p><p>Zenfinex, which <a href="https://www.financemagnates.com/forex/brokers/exclusive-zenfinex-gains-seychelles-license-aims-global-expansion/">gained a Seychelles license</a> in March, has made a number of appointments since the start of 2022.</p><p>In March, the broker <a href="https://www.financemagnates.com/executives/moves/zenfinex-has-chosen-jeffrey-navarro-as-its-head-of-latam/">hired Jeffrey Navarro</a>, an executive skilled in negotiations, sales and derivatives trading, as its Head of Latin America.</p><p>A month earlier in February, the broker also <a href="https://www.financemagnates.com/executives/moves/zenfinex-has-recruited-michel-chabbouh-as-ceo-mena-to-head-its-uae-operations/">appointed Michel Chabbouh</a>, a veteran with over 14 years of industry experience, as its CEO for Middle East and North Africa (MENA).</p><p>Zenfinex tasked Chabbouh with running the company's operations in the United Arab Emirates as part of his MENA CEO duties.</p><p>Meanwhile, in July, the UK's Financial Conduct Authority <a href="https://www.financemagnates.com/forex/uk-fca-warns-on-clone-firm-impersonating-zenfinex/">raised the alarm</a> on zfxtrade.com, alleging that the website was using Zenfinix's legal identity to scam people in the country.</p><p> Market Performance</p><p>Meanwhile, Zenfinex in its 2021 fiscal year reported <a href="https://www.financemagnates.com/forex/brokers/zenfinex-sees-massive-jump-in-fy21-revenue-but-losses-deepen/">a 1,281% growth</a> in its revenue which jumped from £17,281 to £238,756.</p><p>However, the administrative cost of running the company surged to more than £2 million from £514,198 in the previous year.</p><p>Furthermore, the forex and CFD broker's loss last year deepened 71% to £1.7 million from £496,197 in the previous year..</p>

This article was written by Solomon Oladipupo at www.financemagnates.com.