The agency execution broker’s expansion follows a “subdued performance” in H1, with parent company TP ICAP stating that the success of its equities and relative value businesses was “partially offset” by lower-than-expected results.
COEX plans to continue its expansion into 2025, building out its locations, multi-asset offering and follow-the-sun service model.
As part of the drive, COEX has appointed Matt Long as APAC managing director. Based in Singapore, Long has close to 20 years of industry experience and joins COEX from Citi, where he was managing director and head of foreign exchange financial institutions sales and solutions for the APAC region. Prior to this, he was head of FX hedge fund sales in APAC.
Earlier in his career, Long worked on UBS’s FX and precious metals sales team and spent two years as a proprietary trader at JP Morgan’s chief investment office.
Robert Bond, COEX CEO, commented: “Since our inception, we have focused on developing a robust infrastructure to support scalable growth. We are now at a point in our journey where we can execute on our expansion strategy. As a client-centric organisation, it is essential that we evolve our business in a manner that aligns with the global scale at which our clients operate.”
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