FxPro Board Announces the Departure Of Marios Demetriades After Six Years Of Duty

Marios Demetriades, who used to be Cyprus’ Minister of Transport, has resigned from his roles at FxPro Group, ending a long stint of over six years. The company said this move includes his departure from FxPro’s FCA-licensed UK entity and other parts of the group.

Demetriades first joined FxPro’s boards in 2018, after completing his time as Cyprus’ Minister of Transport. The company noted that his leadership was very important in overseeing how the company was run. His experience in business and government was a big help in this role.

Demetriades Served As A Senior Manager At Piraeus Bank Cyprus Before Joining Fxpro

Before working at FxPro, Demetriades was a senior manager at Piraeus Bank Cyprus. The company said this job helped him build his skills in finance and management. It noted that when Demetriades became Cyprus’ Minister of Transport in 2014, he spent four years dealing with public administration and setting policies.

According to the update, Marios started with FxPro in 2012 as a Non-Executive Director and held that position for more than a year. Later, he was promoted to a board member and became Chair of the Risk, Audit, and Compliance Committees in 2018.

Marios still has positions on the boards of Frontline Management and ADS Maritime Holding PLC in Cyprus. The company revealed that during his time as Minister, he looked after areas like shipping, civil aviation, and communications.

In recent times, Demetriades also worked on the Audit and Nomination Committees at Norse Atlantic Airways. According to the latest update, he was the Managing Partner at MD Mindset Capital Ltd for over six years. This company is a small advisory firm that invests in small businesses.

FxPro Reported Financial Successes In 2022

Last year, FxPro released its financial report for 2022. It showed that while the company’s revenue went up, its losses also increased. The company said that revenue grew by almost 20%, from £936,805 in 2021 to £1.11 million in 2022. However, net losses grew by nearly 13%, reaching £614,558 compared to £545,567 the year before.

FxPro said Demetriades’ departure marks the end of an important chapter for the company. His leadership, shaped by his experience in both public and private sectors, will be missed. The company added that even though it faces challenges like last year’s financial results, it is still focused on growing in the future.

The company noted that its leaders are working on new plans to improve its financial situation. It believes that with the right changes, it will solve its recent problems and start making a profit again. Sources have shared that FxPro is hopeful about what’s ahead, especially as it looks for new chances in different markets.