StoneX Hires SWIFT’s Edward Phelps as Head of Sales Strategy

StoneX Global Payments, a subsidiary of the StoneX Group which specializes in cross-border payments to developing countries, has hired Edward Phelps, a former SWIFT employee, as its Head of Sales Strategy. Phelps, who left SWIFT after over five and a half years, announced his new role on Friday.

Phelps brings about a decade of experience to the role. His appointment comes less than a month after Cboe Global Markets appointed Vikesh Patel, a top SWIFT executive, as the new President of Cboe Clear Europe.

At SWIFT, Phelps worked in various capacities, from acting in a Business Development (Corporates) role in 2017 to moving to a SME and Consumer Strategy role in February 2021.

Watch this FMLS22 session that takes a futurist look at the online trading industry.

Phelps joined SWIFT from Ebury where he worked for almost five years. He served in various capacities including in corporate forex sales roles, at the fintech company.

Phelps’ appointment is one in a number of executive hirings companies under the StoneX Group, which provides execution, post-trade settlement, clearing and custody services to its clients, have completed in recent months.

In December, StoneX Group promoted Rana Khatlan, its events, sales and marketing executive, to the position of Marketing and Events Manager for Europe, Middle East and Africa. Earlier in November, StoneX Retail, the Group’s FX and CFD trading division, promoted Adam Dance to Product Director.

Meanwhile, two different subsidiaries under the StoneX Group have recently come under regulatory scrutiny. On Thursday, the National Futures Association (NFA) slapped a $1 million fine on subsidiary StoneX Markets, which is a swap dealer member of the NFA. The US derivatives regulator said the pecuniary penalty is to settle multiple charges of compliance violations against StoneX Markets. The subsidiary fine neither agreed to nor denied the allegations but agreed to pay the fine.

Furthermore, in December, NFA hit GAIN Capital, another StoneX subsidiary, with a $700,000 fine. The penalty, the regulator clarified, was for multiple compliance violations by Forex.com, which is one of GAIN Capital’s retail forex brokerage brands.

StoneX Global Payments, a subsidiary of the StoneX Group which specializes in cross-border payments to developing countries, has hired Edward Phelps, a former SWIFT employee, as its Head of Sales Strategy. Phelps, who left SWIFT after over five and a half years, announced his new role on Friday.

Phelps brings about a decade of experience to the role. His appointment comes less than a month after Cboe Global Markets appointed Vikesh Patel, a top SWIFT executive, as the new President of Cboe Clear Europe.

At SWIFT, Phelps worked in various capacities, from acting in a Business Development (Corporates) role in 2017 to moving to a SME and Consumer Strategy role in February 2021.

Watch this FMLS22 session that takes a futurist look at the online trading industry.

Phelps joined SWIFT from Ebury where he worked for almost five years. He served in various capacities including in corporate forex sales roles, at the fintech company.

Phelps’ appointment is one in a number of executive hirings companies under the StoneX Group, which provides execution, post-trade settlement, clearing and custody services to its clients, have completed in recent months.

In December, StoneX Group promoted Rana Khatlan, its events, sales and marketing executive, to the position of Marketing and Events Manager for Europe, Middle East and Africa. Earlier in November, StoneX Retail, the Group’s FX and CFD trading division, promoted Adam Dance to Product Director.

Meanwhile, two different subsidiaries under the StoneX Group have recently come under regulatory scrutiny. On Thursday, the National Futures Association (NFA) slapped a $1 million fine on subsidiary StoneX Markets, which is a swap dealer member of the NFA. The US derivatives regulator said the pecuniary penalty is to settle multiple charges of compliance violations against StoneX Markets. The subsidiary fine neither agreed to nor denied the allegations but agreed to pay the fine.

Furthermore, in December, NFA hit GAIN Capital, another StoneX subsidiary, with a $700,000 fine. The penalty, the regulator clarified, was for multiple compliance violations by Forex.com, which is one of GAIN Capital’s retail forex brokerage brands.

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