CMC Markets' Chief Market Analyst Michael Hewson Announces Departure

(Picture Source: CMC Markets)

Fazzaco has learned that Michael Hewson has resigned from the position of Chief Market Analyst at CMC Markets, a leading global provider of online trading and institutional (B2B) platform technology solutions, after serving for over 15 years.

"After a remarkable 15 years here on LinkedIn, and even longer at CMC Markets, it's time for me to step down from my current role," shared Hewson in a post on LinkedIn this morning.

According to his LinkedIn profile, Hewson holds the qualification of Certified Financial Technician (CFTe) and boasts over 30 years of experience in the financial markets. During his tenure at CMC Markets, he led a team of in-house analysts, providing clients and the media with daily insights, research, and commentary on global market movements, trends, and opportunities. Prior to joining CMC Markets, Hewson held the position of Product Development Manager at Digital Look, a financial information and solutions provider that is part of CMC Markets, for a duration of two years.

Earlier in his career, Hewson held various roles at several financial services firms and banks, including TraderMade, Commonwealth Bank of Australia, and Manufacturers Hanover Trust.

In recent news, CMC Markets has announced a significant reduction in its workforce, amounting to a 17% decrease. This move is reportedly part of the company's broader strategy to enhance cost reduction and efficiency, resulting in approximately 200 job losses within the organization.

Additionally, the broker has unveiled its financial results for the first half of the fiscal year 2024​, which demonstrate a year-on-year decrease across various key figures. Net operating income for the period has declined by 20% to £122.6 million. Furthermore, there was a 7% decrease in active trading clients and an 8% decrease in active investing clients.