Advanced Currency Markets (ACM), the leading online FX broker in Dubai, has made key management appointments to boost expansion plans in the region.

ACM’s Dubai office will now be managed by Mario A Camara and Tarek Bazerbachi, who will be overseeing the firm’s operations in the Middle East and Asia. Camara will be responsible for operations, management of institutional clients, legal, compliance, finance and marketing.  Meanwhile, Bazerbachi will be in charge of sales.

Prior to his appointment as managing director, Camara held the position of chief legal officer and was responsible for successfully incorporating ACM’s subsidiaries in the Dubai International Financial Centre (DIFC) and the Dubai Multi Commodities Centre (DMCC) and obtaining the corresponding licenses.

Bazerbachi, on the other hand, headed ACM’s sales department and was instrumental in developing and growing the company’s investor base in DGCX. He is concurrently the company’s chief operating officer.

In a joint statement, Camara and Bazerbachi said the management restructuring in the Dubai subsidiaries 'will enable ACM to more effectively pursue its goal to obtain a banking license and develop its product offering as well as continue its expansion strategy in the Middle East.'

ACM earlier this year reported a 50 per cent increase in monthly trading volumes, which at its peak reached a value of $45 billion, boosted by investments from UAE and Saudi investors seeking an alternative from the still shaky stock and property markets.-TradeArabia News Service