Exclusive: Finalto Gets New Group CEO as Hoffman and Greenbaum Depart

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Exclusive: Finalto Gets New Group CEO as Hoffman and Greenbaum Depart

<p class="MsoNormal">Ron Hoffman, the Group Chief Executive Officer (CEO) of Finalto Group, and Liron Greenbaum, the Group Chief Operating Officer (COO), have departed the financial solutions providers after over seven years, Finance Magnates learned exclusively on Friday. </p><p class="MsoNormal">Finalto Group has also tapped Matthew Maloney, who has been the CEO of Finalto Financial Services and Finalto Trading since February 2021, to take over from Hoffman as the new Group CEO.</p><p class="MsoNormal">Hoffman joined Finalto (previously called TradeTech Group) in 2015 from the gaming company, Playtech, where he was the Chief Financial Officer (CFO). Finalto was previously the financial services division of Playtech. </p><p class="MsoNormal">Hoffman spent 13 years at Playtech, rising through the ranks from being the CFO of Sciplay to becoming Playtech's Vice President (VP) of Finance in 2004. He would later become the CFO of Playtech in December 2012. </p><p class="MsoNormal">Last year, Finalto Trading Limited <a href="https://www.financemagnates.com/executives/moves/finalto-picks-jeremy-schlachter-and-ron-hoffman-to-lead-directive-roles/">appointed Hoffman</a> as the Director of the firm alongside Jeremy Samuel Schlachter who was selected as the Finance Director of the former Playtech financial services division.</p><p class="MsoNormal">On the other hand, Greenbaum also joined Finalto Group in 2015 after departing Markets.com, a trading platform he co-founded. He was once the Vice President of Operations at Playtech between October 2007 and December 2008. </p><p class="MsoNormal">Meanwhile, Maloney is a financial industry veteran with over two decades of experience. He was previously the CEO of CFH Clearing Limited. </p><p class="MsoNormal">Throughout his over 25 years career, Maloney has worked for top financial organizations including TTT Moneycorp, FTSE International, the London Stock Exchange and PricewaterhouseCoopers.</p><p class="MsoNormal">As of press time, Finance Magnates is yet to get more details about the executives' moves from Finalto Group. The report will be updated accordingly as more details come in.</p><p class="MsoNormal text-align-justify"> Finalto Sale </p><p class="MsoNormal">The departure of Hoffman and Greenbaum comes over three months after Playtech completed <a href="https://www.financemagnates.com/forex/playtech-completes-250m-finalto-sale-to-gopher-investments/">the $250 million sale</a> of Finalto to Hong Kong-based Gopher Investments. </p><p class="MsoNormal">The sale, which happened ahead of <a href="https://www.financemagnates.com/forex/playtech-now-expects-to-close-finalto-sale-by-mid-july/">the July 15 deadline</a> initially set for the acquisition, <a href="https://www.financemagnates.com/fintech/news/playtech-agrees-to-sell-finalto-to-gopher-investments-for-250-million/">received the nod </a>of Playtech's Board in September 2021. </p><p class="MsoNormal">Finance Magnates reports that proceeds from the sale were utilized to repay the outstanding balance of Finalto's revolving credit facility, while the remaining were used for general corporate purposes.</p><p class="MsoNormal">Before the sale of Finalto, <a href="https://www.financemagnates.com/forex/brokers/exclusive-playtechs-ron-hoffman-muhammad-rasoul-elaborate-alpha-acquisition/" target="_blank">Playtech invested heavily</a> in the financial services division acquiring CFH Clearing Limited and later Alpha Capital Markets for <a href="https://www.financemagnates.com/forex/brokers/breaking-playtech-acquires-alpha-150m-reshapes-financials-division/" target="_blank">up to $150 million</a>. </p><p class="MsoNormal">The company also <a href="https://www.financemagnates.com/forex/brokers/playtech-acquires-markets-com-tradefx-for-up-to-e250-million/" target="_blank">acquired Markets.com</a> for up to €458 million and established ProMarkets, a brand focused on high-net-worth individuals.</p>

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

Source: Exclusive: Finalto Gets New Group CEO as Hoffman and Greenbaum Depart