English
The Investment Platform Oval Money Has a New Leader Who Sees a Bright Future
Oval Money has appointed Luca Merolla as CEO to oversee its aggressive growth strategy.
Mr. Merolla assumes leadership to bring a new perspective to the brand's two goods. Oval is a smart program that automatically saves and invests money, and OvalX (previously ETX Capital) is a trading platform that provides access to stocks, currencies, stock indexes, commodities, and other financial markets.
With a degree in computer science, Merolla brings a plethora of expertise to the position, having worked in financial services for over a decade for companies such as online trading business Swissquote and private equity firm Guru Capital.
He stated, "I'm pleased to embark on this new role and I'm looking forward to Oval Money's continued investment in its technology, infrastructure, and brand's bright future."
The statement comes as Oval Money's UK subsidiary Monecor (London) Ltd reveals its 2021 revenue results, which show a decrease to £24.2 million from the previous year's $31.8 million.
As part of the Brexit group strategy, the company's results are driven by the migration of its European business operations and clients to a European group organization.
Mr. Merolla continued, "In 2021, Oval Money expanded its employees by 30 percent in an effort to strengthen its technology, compliance, and risk divisions.
Now, with the full backing of our shareholders, who have contributed considerable resources to fuel the company's strategic ambition, we can push through this phase of sustained growth and development with the goal of becoming a more diversified financial services provider."
Former CEO Philip Adler resigns to pursue the post of Chief Business Development Officer inside the organization.
"I am very delighted to have led our teams through ownership changes and the rebranding to OvalX," he stated. I am now extremely enthusiastic about expanding our present business lines and creating new revenue prospects."
Oval Money has established a solid basis for achieving its vision of becoming a standard of excellence throughout the UK and Europe, thanks to its increased industry knowledge and expanding workforce of more than 250 individuals situated in the UK, Italy, and Cyprus.
Oval is presently available in Italy and will shortly be released in the United Kingdom. OvalX is accessible in the United Kingdom and the European Union.
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