CFI appoints Federico Cirulli as chairman as group enters next phase of growth

CFI Financial Group, a global leader in online trading services, has named Federico Cirulli as Chairman of the Board, signaling its progression into a more institutionalized and scalable organization. This move comes after a period of exceptional trading performance and the group's continuous expansion of its international presence. The appointment underscores CFI's strategic evolution of its leadership and governance framework as it has matured in scale and ambition.

CFI's co-founders, Hisham Mansour and Eduardo Fakhoury, who had held the positions of Chairman and Vice Chairman respectively, will step down from these roles to become Non-Executive Directors of the company. Both remain active members of the board, committed to the group's ongoing success. Meanwhile, the company's management team and strategic direction remain unchanged.

Cirulli's extensive background in regulated financial services, encompassing roles as CEO and senior executive across brokerage and asset management, spans over two decades. His expertise encompasses business leadership, governance, regulation, international expansion, and the scaling of regulated financial services enterprises.

His responsibilities will involve leading the board, collaborating closely with management, and driving the company's growth trajectory, with a particular emphasis on scalability, operational excellence, and international market penetration.

Mansour expressed that the company was founded with the ambition for it to grow beyond its founders and evolve long-term. Cirulli's appointment is a significant step in this journey, reflecting shared values about building a business for the long term. Fakhoury and Mansour remain fully invested in CFI's success and have confidence in Cirulli and the team as the company enters its next chapter.

Ziad Melhem, Group Chief Executive Officer, commented that every new market entered brings a license, regulator, and a client base that expects the company to be there long-term. Growth and scale introduce obligations along with opportunities, and governance is crucial. He welcomed Cirulli's appointment as Chairman, affirming his commitment to the high standards Cirulli will uphold.

Cirulli highlighted that CFI had established strong foundations over 25 years, merging entrepreneurial spirit with institutional standards. These foundations, shaped by the vision of Mansour and Fakhoury and the team they assembled, will serve as the bedrock for the company's continued expansion. As Chairman, Cirulli's focus will be on working closely with the board, Melhem, and the management team to capitalize on these foundations, adhere to strategic priorities, and ensure disciplined growth, strong governance, and high standards as CFI scales across markets, products, and services.

With a seasoned executive team, an independent board, and now an independent chairman, CFI is poised to continue its growth as a global trading and investment group.