HYCM sees a management buyout led by Roger Bach and Stavros Lambouris, signaling a new era for the brokerage brand.
It has been reported on the newest forex broker news that HYCM forex broker changed its owner through a management buyout led by Roger Bach and Stavros Lambouris, two industry veterans.
Bach, who has been leading HYCM Capital Markets (UK) Limited since 2005, and Lambouris, the CEO of HYCM's EU and international activities, jointly hold outstanding industry experience to be the company's new owners of the well-known forex and contracts for difference brokerage brand.
The brokerage, formerly Henyep and HY Markets, changed its brand name to HYCM in 2016 with Henyep Group, which is owned by the Chinese entrepreneur Chiu Sheen Charm Chiu. The takeover is a major milestone on a path of growth for this UK-based broker, and Bach and Lambouris aim to use their expertise and BCFX's strong client base to propel the company to reach new peaks.
HYCM forex broker is currently undergoing regulatory approval for the ownership transition in its jurisdictions across the UK, Cyprus, UEA-Dubai DIFC, and the Cayman Islands.
In a statement, the head of the firm said that he was over the moon with the completion of the buyout and that they intended to drive innovation and stick to high ethical and professional standards. Bach also confirmed Henyep, emphasizing their support and looking forward to a long-term positive partnership.
The move reveals that the company is approaching a new era with Bach and Lambouris in the driving seat as they steer the company toward sustained growth and success in the intense competition of the brokerage business.
Last year, in similar news, FXCM Group's UK and Cyprus branches changed their names to Stratos Markets and Stratos Europe.