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PRIME Mantle Corporation appoints new CEO
- Forex trading expert David Hastings takes over the top of the company with effect from 1 December 2013
- Predecessor Terry Thompson focuses on his position as CEO of the FXPRIMUS Ltd. subsidiary
- Consolidation of subsidiaries under one roof successfully completed
PRIME Mantle Corporation (PMC) Plc, a leading provider of credible, well regulated financial services products and solutions, has appointed David Hastings as its new Chief Executive Officer (CEO). With his proven strategic leadership qualities and recognized industry expertise in foreign exchange trading and e-commerce, Hastings' future main task in the company is piloting PMC on its way to being acknowledged as the market leader in providing innovative financial and trading solutions for the African, Asian and Emerging economies of the world. "Looking back on my career so far, challenging tasks have always been my driving force. Continuing the PMC story will be a matter close to my heart. The future of PMC is not only delivering awarded online forex trading platforms - it is delivering a wide, integrated range of financial service offerings with the aim of becoming number one on the market", David Hastings comments on his new role.
Hastings takes along almost 40 years of international management experience in the financial industry. From 1975 to 1998, he made an impressive career as a trader in various positions of forex trading. Inter alia, he was Deputy Head of FX with Banque Nationale de Paris (since 2000: BNP Paribas). As Head of relationship management of US financial service provider Citigroup, he built up Lava FX, a multibank portal within the European e-commerce market. From 2006 to 2009, he was Global Head of the S&P 500 financial services holding company State Street, being responsible for maintaining and increasing State Street's footprint within its global strategic relationships, both buy and sell sides. Since 2011, he had been CEO at Boston Prime UK, one of UK's leading FX brokerage firms, where he formulated and implemented a new business strategy and managed sales and operations both for retail and institutional customers.
As a result of David Hastings' appointment as PMC's CEO, his predecessor Terry Thompson will be able to focus on his role as CEO of PMC's FXPRIMUS Ltd subsidiary. Terry Thompson welcomes the new allocation of tasks within the group: "David is the ideal choice for the CEO position. He has demonstrated his management skills in an amazing vita and has the ability to integrate the expectations of retail and institutional clients - a requirement which is very important for our business." Besides Hastings, the Group Executive Board currently consists of Stephen Kevan, CFO Fathi Fauzi and Peter Barbas. The other former Board members now mainly concentrate on the company's subsidiaries. Kevin de Silva focuses on the development of the subsidiary PRIME Mantle Services (as its CEO), Mario Singh on FX:1 Academy (as its CEO) and Manmohan Singh is still available as an external consultant to PMC. Jeffrey Zweig has left the company.
As reported in May, PMC has successfully completed its corporate reorganisation. The group consists of the subsidiaries FXPRIMUS Ltd., PRIME Mantle Options (formerly known as BINARYProfits), FX:1 Academy, PRIME Mantle Services and PRIME Mantle Capital. PMC as the holding company has established a policy of central ownership and control of its chosen businesses that are deemed to be core to future growth. Mid-term objective is to combine all subsidiaries in a single access online investment platform which will give clients access to services like forex and equity trading, binary trading and wealth & asset management services like diversified investment funds, private equity investments and the means to deposit and withdraw funds.
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