Percy Golergant will take up the role of executive director for Luxembourg.  Photo: Monex Europe

Percy Golergant will take up the role of executive director for Luxembourg.  Photo: Monex Europe

Monex Europe has appointed Percy Golergant as its executive director for Luxembourg, the company announced in a press release on 8 August.

Golergant, who has 20 years’ experience with Bank Hapoalim, half of which he spent heading up its Luxembourg entities, will co-direct Monex Europe’s Luxembourg operations together with Carlo Biondi, also an executive director with the company.

Among his tasks, says the press release, will be streamlining IT operations, enhancing risk management services and driving sales.

Part of the wider Monex group, an investment-grade financial services institution, Monex Europe is headquartered in Luxembourg and was established in December 2020. It specialises in commercial foreign exchange, providing FX payment services to clients in the European Economic Area. Since its inception, it has been “significantly growing its client base and enhancing its product offering.”

Says Golergant of his appointment: “I am delighted to be joining Monex Europe S.A., a fast-growing, fast-paced business where I can bring my in-depth knowledge of the region’s market and regulatory intricacies to the table. A strong foundation has been built since its establishment just over two years ago--one which I am excited to develop and grow further as the firm enters the next chapter of its growth journey.”

The incoming executive director got his start as an investment advisor in the banking sector in Israel and holds a master’s degree in business administration from the Hebrew University of Jerusalem. Fluent in Hebrew, Spanish, French and English, he has been an approved authorised manager by the CSSF, Luxembourg’s financial regulator, for 12 years.

Biondi, his colleage-to-be, comments: “Heightened market volatility has unsurprisingly engendered greater appetite for hedging strategies from our clients, and thanks to our sophisticated systems and global payment solutions, we are ideally placed to respond to it. I am excited to work with Percy to further drive our expansion in the region, considering his extensive experience in the financial sector and local know-how, representing a significant asset to our strategic growth ambitions.”

Monex was founded in 1985 and has more than 66,000 clients worldwide. It closed 2022 with $303bn deliverable FX trades and $11.1bn in assets.