FNG Exclusive… FNG has learned that ownership of the Retail FX and CFDs brokerage brand HYCM is changing hands, in a management buyout that is still in process.
Buying control of HYCM are Roger Bach and Stavros Lambouris, two longtime senior managers within the HYCM Group.
Roger Bach has served as a Director and CEO of the company’s London based, FCA regulated arm HYCM Capital Markets (UK) Limited, since 2005. Stavros Lambouris has been with the HYCM Group since 2007 (except for a short stint at a rival broker in 2010-2011), and has served as CEO of HYCM’s EU and international businesses, out of Cyprus, since 2014.
The brokerage used to be known as Henyep and as HY Markets, rebranding fully as HYCM in 2016, with the group’s Hong Kong based parent company keeping the name and brand Henyep Group. The Henyep Group is controlled by Chinese businessman Sheen Charm Chiu.
The HYCM brand operates via a number of licensed subsidiaries, including in the UK (as noted above), in Cyprus (HYCM Europe Ltd), the UAE-Dubai DIFC (HYCM Capital Markets DIFC Limited) and offshore (HYCM Ltd) in the Cayman Islands.
We understand that the company is in process of finalizing the various regulatory approvals for the change-of-control, in the various jurisdictions in which HYCM operates.
FNG spoke with Stavros Lambouris, who said,
“We are thrilled about the successful completion of the management buyout. With the support of our talented team and the trust of our clients, we are poised to take HYCM to greater heights. Our focus will remain on delivering innovative financial solutions, fostering strong relationships, and upholding the highest standards of integrity and professionalism. Our clients remain at the heart of the Company.”
Roger Bach added,
“We would like to extend our gratitude to Henyep for their co-operation throughout the buyout process. The transition of ownership was conducted smoothly, and both parties look forward to maintaining a positive working relationship in the future.”
