When to be Promoted? Promotion Periods of New Executives in 8 Brokers

For ambitious people, a single job is a temporary position on the way to a more ideal career. Regardless of the level of your aspirations, you will probably want a promotion at some point to move up to the next level. For those who work in FX brokers, gaining a foothold in the company's senior management is probably the goal they strive for. In the past three months, IC Markets​, OANDA​, BDSwiss​ and other 5 brokers have promoted 10 outstanding talents to their companies' executives. Let us focus on their promotion and see how long it took them to get to where they are today.

It took, on average, 3 years and 8 months for the 10 leaders to be promoted to an executive level position, with Liquidnet's Roland de Marsang​ taking the longest. It took him 10 years to rise from EMEA Sales Director to Head of Business Development, APAC. The one with the shortest time was CMC Markets​' Sam Horowitz, who was promoted from lead of eFX Consulting / Transformational Change Project to Head of FX Distribution and Liquidity Management in just 10 months.

​It is worth noting that 6 of the 10 executives are marketing leaders, accounting for more than half of the overall, and the rest are 2 compliance and risk specialists, 1 IT technologist and 1 HR leader. Marketing and sales talents are highly valued and sought after within brokers. This is because the bottom line of business operation, regardless of what type of financial firm they are, is to convince potential investors that the traders and offerings in this broker are better than the others, and this is exactly the working content of marketing and sales.

Of the 10 executives, Nicole Heinrich​ of BDSwiss and Calvin Mangalino of IC Markets started their career at the very bottom level. Nicole joined BDSwiss in 2016 as Account Manager in Germany. She was promoted to the Head of Sales and Business Development in July 2022 after 6 promotions, with an average tenure of each position of 1 year. Calvin joined IC Markets as a system administrator in 2017. He was also promoted to Chief Technology Officer in this July. It can be seen that the senior position at brokers is not only open to those who have previously held similar ones. No matter which job levels you are at, you will have the opportunity to be the executive of your company.