INFINOX
Capital’s appointment of Lee Holmes as Chief Executive Officer (CEO) comes at a critical juncture for the
FCA-regulated broker, which has experienced a visible revenue decline despite
returning to profitability in fiscal year 2024. Although the company reported in its latest update that it had rebuilt gross income numbers by 400% and increased gross deposits and trading volume, the CEO emphasized that he wants to change the “direction of the company.”
The
appointment marks a
return to INFINOX for Holmes, who previously served in an executive
management role at the company from
May 2022 to April 2023. It also appears strategically aligned with current INFINOX’s needs. His
extensive background in institutional sales and liquidity management positions
him well to accelerate the company’s IXO Prime business focus.
Before
rejoining INFINOX in September 2024, Holmes served as Senior Manager for
Liquidity Sales at Exinity and previously held the
role of Head of Institutional Sales at Hantec Markets. His career also
includes significant experience at
ATFX UK and FXCM, where he worked in institutional and introducing broker
sales roles.
“All my colleagues here, and the company itself, have always been very close to my heart,” Holmes commentef for FinanceMagnates.com. “Being able to contribute to the future of INFINOX and help represent those colleagues means the world to me. We want to reach new levels not achieved before and create a culture where our people drive the business, as I believe we have some of the best talent in our industry.
It is a truly exciting time for INFINOX, and I look forward to seeing what we can achieve as a team.”
INFINOX has
been undergoing substantial leadership changes beyond Holmes’ appointment. Jana
Zdravecka joined as Executive Director earlier last year, while the company’s
financial filings indicate Robert Berkeley has departed. The leadership
transition appears to be part of a broader restructuring following new
shareholders assuming management control of the wider INFINOX group.
“With new
management in place, I’m confident we can elevate INFINOX in the best way
possible,” added the new CEO.
Strategic Initiatives
Already Underway
The broker
has already taken steps to raise its profile, securing a sponsorship deal with
BWT Alpine F1 Team and Alpine Endurance Team as part of its 15th anniversary
celebration. According to company statements, this has helped elevate the
brand’s positioning and establish new relationships with stakeholders across
the industry.
While
INFINOX’s directors described the FY2024 results as “satisfactory”
and expressed confidence in improved future performance, Holmes’ leadership
will be crucial in determining whether the company can rebuild its revenue
while maintaining the profitability achieved through cost-cutting.
AUM Visibly Lower in Fiscal 2024
According
to the company’s financial results for the year ending March 31, 2024, INFINOX
reported a
75% drop in revenue to £3.7 million from £14.6 million in the previous
year. This substantial decrease coincided with the company’s strategic decision
to pivot away from retail business to focus on its institutional IXO Prime
offering.
Client
assets under management (AUM) also shrank threefold, falling from £15.5 million to
£5.4 million. Despite these changes, INFINOX managed to rebuild its financials.
The broker reported a net profit of nearly £900,000 for fiscal year 2024,
compared to a £5.2 million loss in the previous year.
This
recovery was achieved through aggressive cost-cutting measures:
- Administrative
expenses were slashed by 70%, falling from £7.92 million to £2.43 million - Cost of
sales plummeted from £12.16 million to just £376,684 - Gross
profit increased to £3.31 million from £2.47 million
The
company’s strategic shift has significantly altered its business model.
INFINOX’s financial report indicates that since October 2023, it has moved to a
volume-based income approach, receiving commissions from liquidity providers
based on client trading volumes.
INFINOX
Capital’s appointment of Lee Holmes as Chief Executive Officer (CEO) comes at a critical juncture for the
FCA-regulated broker, which has experienced a visible revenue decline despite
returning to profitability in fiscal year 2024. Although the company reported in its latest update that it had rebuilt gross income numbers by 400% and increased gross deposits and trading volume, the CEO emphasized that he wants to change the “direction of the company.”
The
appointment marks a
return to INFINOX for Holmes, who previously served in an executive
management role at the company from
May 2022 to April 2023. It also appears strategically aligned with current INFINOX’s needs. His
extensive background in institutional sales and liquidity management positions
him well to accelerate the company’s IXO Prime business focus.
Before
rejoining INFINOX in September 2024, Holmes served as Senior Manager for
Liquidity Sales at Exinity and previously held the
role of Head of Institutional Sales at Hantec Markets. His career also
includes significant experience at
ATFX UK and FXCM, where he worked in institutional and introducing broker
sales roles.
“All my colleagues here, and the company itself, have always been very close to my heart,” Holmes commentef for FinanceMagnates.com. “Being able to contribute to the future of INFINOX and help represent those colleagues means the world to me. We want to reach new levels not achieved before and create a culture where our people drive the business, as I believe we have some of the best talent in our industry.
It is a truly exciting time for INFINOX, and I look forward to seeing what we can achieve as a team.”
INFINOX has
been undergoing substantial leadership changes beyond Holmes’ appointment. Jana
Zdravecka joined as Executive Director earlier last year, while the company’s
financial filings indicate Robert Berkeley has departed. The leadership
transition appears to be part of a broader restructuring following new
shareholders assuming management control of the wider INFINOX group.
“With new
management in place, I’m confident we can elevate INFINOX in the best way
possible,” added the new CEO.
Strategic Initiatives
Already Underway
The broker
has already taken steps to raise its profile, securing a sponsorship deal with
BWT Alpine F1 Team and Alpine Endurance Team as part of its 15th anniversary
celebration. According to company statements, this has helped elevate the
brand’s positioning and establish new relationships with stakeholders across
the industry.
While
INFINOX’s directors described the FY2024 results as “satisfactory”
and expressed confidence in improved future performance, Holmes’ leadership
will be crucial in determining whether the company can rebuild its revenue
while maintaining the profitability achieved through cost-cutting.
AUM Visibly Lower in Fiscal 2024
According
to the company’s financial results for the year ending March 31, 2024, INFINOX
reported a
75% drop in revenue to £3.7 million from £14.6 million in the previous
year. This substantial decrease coincided with the company’s strategic decision
to pivot away from retail business to focus on its institutional IXO Prime
offering.
Client
assets under management (AUM) also shrank threefold, falling from £15.5 million to
£5.4 million. Despite these changes, INFINOX managed to rebuild its financials.
The broker reported a net profit of nearly £900,000 for fiscal year 2024,
compared to a £5.2 million loss in the previous year.
This
recovery was achieved through aggressive cost-cutting measures:
- Administrative
expenses were slashed by 70%, falling from £7.92 million to £2.43 million - Cost of
sales plummeted from £12.16 million to just £376,684 - Gross
profit increased to £3.31 million from £2.47 million
The
company’s strategic shift has significantly altered its business model.
INFINOX’s financial report indicates that since October 2023, it has moved to a
volume-based income approach, receiving commissions from liquidity providers
based on client trading volumes.
