Digital Assets Report

Newsletter

Like this article?

Sign up to our free newsletter

Tim Bevan appointed chief executive of BCS Prime Brokerage

Related Topics

BCS Financial Group, the largest broker of equities and derivatives on the Moscow exchange, has appointed Tim Bevan as chief executive of BCS Prime Brokerage.

The new role will be responsible for all international operations including future growth strategy, new products and diversifying the business.
 
The CEO role has been created due to the rapid expansion of the ex-Russian business and following on from other senior appointments at BCS such as the recent hire of John Barker as chairman and Max Hayden as global head of prime brokerage.
 
In the last 18 months BCS’ UK operations have continued to grow with UK activity becoming a core entity within the BCS group for investment banking activity. BCS’ position in Russia has also become more dominant now accounting for 25 per cent of both equity and derivatives markets and establishing itself as the leading FX broker, much of this due to business from international clients. The ex-Russian business now is set for rapid expansion with a 50 per cent growth in headcount expected over the next 12 months.
 
Part of Bevan’s remit as CEO will be to introduce new products and services in order to diversify global operations. This includes moving away from being a pure broker to become a leading liquidity venue for Russian and Russian related instruments. Growth plans also include diversifying the business lines in both geography and product, and expanding current financing operation activities.
 
Roman Lokhov, chief executive, head of GMIB BCS Financial Group, says: “Since opening our UK office BCS Prime Brokerage has grown significantly, we believe that now is the time to recognise this growth by creating a new CEO position for which Tim was the natural candidate. This position will give Tim and the senior team a more formalised structure to continue working towards new business lines outside Russia.”
 
Bevan says: “Since joining BCS we have worked hard to build the business outside of Russia and grow our range of products and services on offer to clients, this hard work has been rewarded and we are now the go-to broker for Russia and Russian products. The business outside of Russia is now at the size where it is an integral part of the BCS global operations and I am delighted that the board of BCS have recognised the work of the team by creating a CEO position for non-Russian operations which I am delighted to have been appointed to. I look forward to continuing to grow and expand our business in the coming years.”  

Like this article? Sign up to our free newsletter

Most Popular

Further Reading

Featured