Former ETX Capital CEO Arman Tahmasebi has moved to Flagstone to serve as Chief Operating Officer. According to company information on LinkedIn, Flagstone enables companies to offer savings options to their customers. Founded in 2015, the London-based company has more than £11bn of assets under management and allows clients to hold multiple cash savings accounts.
Extensive experience in financial technology
Tahmasebi worked for about three years at ETX Capital, which rebranded as OvalX before closing. There, he served as Chief Operating Officer and later CEO. He then moved to LendInvest, a UK-based financial technology company, as Chief Operating Officer.
Tahmasebi served as Chief Operating Officer at London Capital Group between 2015 and 2016. In addition, the experienced executive served as Managing Director for Europe and South Africa and then as Global Head of Operations at IG, where he dedicated more than 14 years.
In 2022, ETX Capital was rebranded as OvalX following the integration of services between ETX Capital and sister fintech company Oval. Philip Adler, then CEO of Oval Money, expressed his enthusiasm for the transformation, highlighting the company's vision to redefine itself as a modern financial services entity.
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OvalX has emerged as a strong entity in the financial services space, with operations in Italy, the UK and Cyprus and a workforce of 180 professionals. Despite the rebranding, core services from both platforms remained intact, in line with the company's commitment to customer satisfaction and service excellence.
Alongside the rebranding, ETX Capital has announced plans to expand its global footprint by obtaining a new license from the South African Financial Market Regulatory Authority. The move aims to enable OvalX to capitalize on fast-growing African markets.
However, OvalX permanently ended its operations last year. The company offered its customers the option to move their accounts to Capital.com to maintain continuity of service. Additionally, layoffs within the organization pointed to deeper fundamental problems plaguing the once-respected brokerage firm before its collapse.
This article was written by Jared Kirroy at www.financemagnates.com.
