Trading 212, a London-based provider of trading platform for stocks,
exchange-traded fund and contract for difference (CFDs), has sacked two of its
directors, Rajvinder Kaur Somal and Borislav Tzonkov Nedialkov.
According to the company’s UK Companies House filings, the directors’
appointments were terminated last Thursday
(January 26th). However, the reason for the move was not disclosed in
the filings.
Somal was appointed Director in late February
last year. On the other hand, Nedialkov co-founded Trading 212 in 2004
alongside Ivan Ashminov. However, Nedialkov ceased to be a person with
significant control in the business in October 2016.
As of press time, Finance Magnates is yet to get an official response from Trading 212 with regards to the terminational of the non-executive directors’ appointments. However, the development comes five months after
Trading 212 UK appointed Andrew Paul Rydon as a Director at the
company. Rydon is also a Non-Executive Director at various other
companies.
Watch the recent FMLS22 session on risk management for turbulent times.
Until July last year, Rydon was the Chief Operating Officer at Investec
Wealth & Investment UK. He joined the investment management company after
spending over 14 years at Henderson Global Investors serving in various
capacities such as Chief Information Officer, Chief Technology Officer and
Global Head of IT.
The brokerage also
recently hired Darren Dale, a compliance expert with over 17
years of industry experience, as its Group Chief Compliance Officer.
Meanwhile, Trading 212 Group reported a 473% growth in its pre-tax profit for the 2021
financial year. The numbers came in at £86 million, according to a Companies
House filing seen by Finance Magnates. Furthermore, during the period,
Trading 212’s total revenue increased by over 11.2% year-over-year to £138.7
million.
The same growth pattern also applied to Trading 212 UK, one of the four
subsidiaries of the Group. The subsidiary reported a 74% jump in its total revenue
for fiscal year 2021 even as pre-tax profit skyrocketed by 108% to almost £56
million, up from £26.96 million in the prior year.
Outside the United Kingdom, Trading 212 owns three other subsidiaries Bulgaria (the home country of its founders), Cyprus and Germany. However,
the brokerage company announced plans last year to shut down its Germany entity.
Trading 212, a London-based provider of trading platform for stocks,
exchange-traded fund and contract for difference (CFDs), has sacked two of its
directors, Rajvinder Kaur Somal and Borislav Tzonkov Nedialkov.
According to the company’s UK Companies House filings, the directors’
appointments were terminated last Thursday
(January 26th). However, the reason for the move was not disclosed in
the filings.
Somal was appointed Director in late February
last year. On the other hand, Nedialkov co-founded Trading 212 in 2004
alongside Ivan Ashminov. However, Nedialkov ceased to be a person with
significant control in the business in October 2016.
As of press time, Finance Magnates is yet to get an official response from Trading 212 with regards to the terminational of the non-executive directors’ appointments. However, the development comes five months after
Trading 212 UK appointed Andrew Paul Rydon as a Director at the
company. Rydon is also a Non-Executive Director at various other
companies.
Watch the recent FMLS22 session on risk management for turbulent times.
Until July last year, Rydon was the Chief Operating Officer at Investec
Wealth & Investment UK. He joined the investment management company after
spending over 14 years at Henderson Global Investors serving in various
capacities such as Chief Information Officer, Chief Technology Officer and
Global Head of IT.
The brokerage also
recently hired Darren Dale, a compliance expert with over 17
years of industry experience, as its Group Chief Compliance Officer.
Meanwhile, Trading 212 Group reported a 473% growth in its pre-tax profit for the 2021
financial year. The numbers came in at £86 million, according to a Companies
House filing seen by Finance Magnates. Furthermore, during the period,
Trading 212’s total revenue increased by over 11.2% year-over-year to £138.7
million.
The same growth pattern also applied to Trading 212 UK, one of the four
subsidiaries of the Group. The subsidiary reported a 74% jump in its total revenue
for fiscal year 2021 even as pre-tax profit skyrocketed by 108% to almost £56
million, up from £26.96 million in the prior year.
Outside the United Kingdom, Trading 212 owns three other subsidiaries Bulgaria (the home country of its founders), Cyprus and Germany. However,
the brokerage company announced plans last year to shut down its Germany entity.