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Dutch Robinhood rival BUX gets new CEO in the UK to scale operations

BUX CEO

Amsterdam-based BUX is Europe’s fastest-growing neo-broker that has been making it easy and affordable for people to do more with their money. In a recent development, the fintech announced the appointment of Salim Sebbata, its new CEO of BUX UK. He will be taking over the UK operations of the company from Yorick Naeff, the former CEO of BUX appointed in April.

Sebbata has over 25 years of experience as an industry executive in the global markets, trading and investing space. Previously, he served as the former UK Director at Livemarkets Ltd. and the former Head of Business Development at Trade.com. Also, he was the Vice President of Merrill Lynch, Frankfurt, and headed up international sales at E*TRADE.

New roles of BUX UK CEO

As the new CEO, Sebbata will oversee the overall business operations in the UK as well as manage the trading, cash management, client administration, and compliance solutions, which provide B2B investment solutions for introducing brokers and tied agents around the globe.

“BUX is taking a leading role in shaping the future of how people invest,” said Sebbata. “Brokers must adapt to the needs of a new generation and BUX has a unique understanding of what they require. Doing good for clients has always been at the forefront of how I viewed my role in the world of online brokerage. Part of the appeal of joining the team at BUX is that they truly live by the philosophy that they always want the client to succeed. I look forward to building on the foundation that has been laid, to help drive further growth and to continue to expand on the opportunity in the market that we see now.”

“Salim is an industry veteran and has a strong track record on a number of key pillars for us including launching new business lines as well as global expansion.” said Yorick Naeff, CEO, BUX “As BUX continues to focus on rapidly scaling, Salim’s background will be an invaluable asset to us as we continue our mission of bringing accessible investing to a new generation in Europe and beyond.”

Flagship BUX Zero platform

In April this year, the Dutch fintech startup secured nearly £58 million in funding for its UK expansion and appointed the new CEO. Founded by Egbert Pronk, Joost van de Wijgerd, Nick Bortot, and Robbert Bos in 2014, BUX has more than doubled its assets under management since the debut of this year.

Its flagship platform BUX Zero makes commission-free investing accessible and affordable for the first time. Other products in its portfolio include BUX Crypto which allows users to invest in real cryptocurrencies, and BUX X, where users can trade in contracts for difference (CFDs). While these products are available across multiple European countries, BUX Zero is currently available only in the Netherlands, Germany, Austria, France, Belgium and Ireland.