OpenMarkets appoints head of sales
Online trading stockbroker OpenMarkets Australia has announced former E*Trade senior business development manager (BDM) Leo Lopez as its new head of sales as it looks to expand its financial services base.
The appointment comes in a bid to grow the company’s wholesale stockbroking business, which provides financial wealth advisory groups and other intermediaries with execution and trading services.
Lopez was previously at E*Trade for five years, with his most recent role as senior business development manager of its wholesale stockbroking and margin lending division.
OpenMarkets announced last year it was a full market participant of the Australian Securities Exchange (ASX), National Stock Exchange of Australia, and SIM VSE.
The company stated it was the first company of its type to be launched on the ASX since 2007.
This appointment comes as OpenMarkets reports strong demand for its fee execution and trading services.
“OpenMarkets has signed six wealth advisory groups to its equities trading service since its launch late last year - a number that’s expected to grow with the addition of Mr Lopez and launch of options trading in March 2014,” OpenMarkets CEO Rick Klink said.
AUTHOR
Malavika Santhebennur
Recommended for you
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
As advisers risk losing two-thirds of FUA during the $3.5 trillion wealth transfer, two co-founders underscore why fostering trust with the next generation is vital to retaining intergenerational wealth.
As advisers seek greater insights into FSCP determinations, what are the various options considered by the panel and can a decision be appealed?
