In October 2023, Hormoz Faryar joined ATFX as Managing Director of Institutional Sales in MENA. With over 23 years of invaluable experience in forex trading and sales, Hormoz brings a wealth of knowledge and expertise to his new role. Today, Hormoz will share insights on opportunities in the MENA region and how he will help expand the brand in upcoming projects.
FNG: Hello Hormoz, as Managing Director of Institutional Sales at MENA, tell us why you joined ATFX. Can you provide an overview of your role as CEO at ATFX Connect, the institutional brand of the ATFX group?
Hormoz: There are several reasons to join ATFX and most of them are related to customer solutions and employee empowerment. In our industry, ATFX stands out as a remarkable organization that prioritizes creating innovative and effective solutions for its clients. Unique to my journey is that I have had the privilege of working alongside nearly 10 former colleagues who are now part of ATFX’s 700+ talented workforce. This gave me a deep understanding of the great work environment and culture, even before I joined.
As Managing Director of Institutional Sales in MENA, my role is primarily focused on overseeing our institutional clients. This includes working from our new A-class office in Dubai and leveraging ATFX’s extensive resources, cutting-edge technologies and global reach to deliver world-class service and support to our valued institutional clients. In this dynamic and proactive environment, I have the opportunity to take on new challenges and constantly improve my professional skills.
By joining ATFX, I am confident that I have aligned myself with a company that not only values its employees, but also prioritizes excellence in customer solutions. I am excited to be part of an organization that promotes growth, encourages innovation and is genuinely interested in delivering great results for both its clients and employees.
FNG: What do you see as the key challenges and opportunities for ATFX Connect in the MENA market? And what strategic initiatives do you plan to implement in order to expand ATFX Connect’s presence in the region?
Hormoz: The financial services sector in the MENA region is highly competitive, with local and international players vying for market share. ATFX Connect needs to differentiate itself effectively to stand out in this crowded market. In addition, the region has diverse regulatory landscapes, with each country having its own set of regulations and compliance requirements. Navigating these regulatory frameworks can be difficult for financial institutions.
However, the MENA region is witnessing a growing interest in financial markets, driven by economic diversification efforts, rising wealth and new and mature technology-inclined demographics. The development of technology and requirements in the Middle East (MENA) financial sector offers opportunities for ATFX Connect to leverage innovative solutions and digital platforms to reach and engage with customers more effectively. At the same time, investors in the region are increasingly looking for diversified investment products beyond traditional asset classes. ATFX Connect can capitalize on this demand by offering a wide range of investment options and customized solutions.
ATFX Connect complies with regulatory requirements in each country of operation, following local laws and regulations and striving to maintain high standards. Tailoring products, services and marketing efforts to meet the specific needs and preferences of the MENA market, including language localization, cultural sensitivity and customer support in local languages, is our primary focus. We also continuously invest in technology infrastructure and digital solutions to improve trading platforms, improve user experience and provide innovative tools and capabilities that meet the evolving needs of MENA clients.
ATFX Connect is successfully attracting high-end clients and team members at the same time, which provides us with a significant opportunity to expand our presence in the MENA market. We are currently devoting efforts to a number of important projects that will become apparent in the coming months. These initiatives are expected to underline our commitment to growth and innovation in the financial services sector.
FNG: Can you share any specific projects or partnerships that have contributed to the success of ATFX Connect in MENA?
Hormoz: In the last half year, the most essential factor contributing to our success has been the strategic addition of key team members. For example, FX industry veterans Drew Niv joined the team as Chief Strategy Officer, Siju Daniel as Chief Commercial Officer and John Bogue as Director of Institutional Operations. After all, starting partnerships and starting projects play a valuable role, but the crux of maximizing results from such efforts depends on having a team capable of deriving unrivaled value from them. Our recruitment strategy was laser-focused on assembling a cadre of industry leaders. This elite team is charged with innovating our product lines for both internal efficiency and external services, which will have a transformative impact on how our customers, particularly those with ATFX Connect, interact with data as and how to navigate and manage risk.
In addition, we never stop forming strategic partnerships with local brokers, financial institutions and technology providers to expand distribution channels, improve service offerings and strengthen market presence in the MENA region.
About ATFX
ATFX is a leading global fintech broker with a local presence in 23 locations and licenses from regulators including UK FCA, Cyprus CySEC, UAE SCA, Australia ASIC and South Africa FSCA. With a strong commitment to customer satisfaction, innovative technology and strict regulatory compliance, ATFX provides exceptional trading experiences to clients worldwide.
For more information about ATFX, visit the ATFX website: https://www.atfx.com.