Spread trading company, Global Trader 247 (GT 247) has recently appointed a Chief Operating Officer, David Mercer, to join the global management team of Fleur Gremmen (CEO) and David Butler (Chairman).
A statement issued by GT 247 says that after considerable success in the SA market, the company recently expanded to Dublin, Ireland, where Mercer is based. He is responsible for the day-to-day international operation of the business and the implementation of strategic business strategy. Previously at Credit Suisse for nine years, he was most prominently the Global Business manager for the world leading Fixed Income Emerging market desk, which had operations in 17 countries and revenues in excess of $1 billion per year.
In addition to the Irish office and as part of the programme of international expansion there is also new entity and Canada to launch their product in the European and North American markets. Further expansion into the Asia Pacific region is expected in 2003.
Mercer says: "The challenge now facing us is to ensure the existing framework is leveraged and scaled to its optimum whilst maintaining and enhancing control in a period of rapid growth.
"We will manage this by a process of localised centralisation whereby Dublin, Johannesburg and Toronto become regional hubs for all regional operational issues, and global functionality is centralised in local centres of excellence."
He says that all technology research and development will be centralised in SA where excellent technology resource is harnessed with comprehensive business knowledge, borne out of the success of the original "proof of concept model" that is Global Trader 247 South Africa.
Likewise Dublin is the international trading and risk management centre by virtue of the trading and risk expertise in the office and it`s proximity to all leading world markets. Dublin is also the centre for all statutory and regulatory issues whilst the Canadian office will become the global marketing and partnership model."
From a regional hub perspective Global Trader 247`s three offices will be the focal point of all extended business in those regions - being Europe, Africa & the Middle East and the Americas. This ensures that other potential regional representative offices can be just that, and there is no need for replication and duplication of the specific functional expertise already prevalent within the regional hubs.
The centralised local approach also means that Global Trader 247 can manage ideas and knowledge across the breadth of its international operation and share ideas using best practice communication tools and processes. Commenting on this, Mercer says, "It is intended that the result of this approach will be an efficient and consistent international offering with a worldwide client base benefiting from a 'best of all worlds` approach."
Global Trader 247 has positioned itself to become a leading international Spread Trading company from its base of the successful operation created in South Africa over the past two years.
Mercer says: "The robust and scalable South African model coupled with an internationally centralised operation enables us to implement the Global Trader 247 offering in any international location rapidly and expediently - normally within a two month timeframe."
Concludes Mercer: "We believe that Global Trader 247 is the only international Spread Trading business with this capability, which allows us to capitalise in regions where the CFD market is at an embryonic stage, as well as existing developed markets such as the UK."
Share