“I’ll End Up with More People Than I’d Like to Oversee”: Rostro’s Ayres on Hiring Spree

2024-10-15T15: 40: 00.000+02: 00

• Finance Magnates recently interviewed Michael Ayres, Group CEO of Rostro Group, to discuss the latest hires and expansion plans.
• “To be honest, it was more of a surprise,” Ayres on Scope Prime’s hiring of Lochlan White.

“I think we’ll pass 200 or 205 headcounts by the end of the year,” Michael Ayres, Group CEO
of Rostro Group, told Finance Magnates following the hiring spree of Scope
Prime, the liquidity provider under the broad Rostro umbrella. He added: “The hires were really around certain
regions… We won’t keep running at this rate however as otherwise. I’ll
probably end up with more people than I would like to oversee.”

Some
of Scope Prime’s prominent hires include Andrew Taylor, Head of APAC, and
Mirian Rostian, Head of Southeast Asia. It also onboarded Gaby Kanj, an
industry veteran with over thirty years of experience, to focus on operations
in the MENA markets. Fraser Nelson also joined Scope Markets earlier this year
as the Global Head of Business Development.

While
Scope Markets is the retail-centric brand under Rostro, Scope Prime is the
institutional liquidity unit. The B2B brand now has about 15 dedicated
employees, while the total number of Rostro employees globally is 195.

“It Was More of a Surprise”

One of
Scope Prime’s most interesting hires is Lochlan White, who is now its Chief
Commercial Officer. He assumed the role after leaving 26 Degrees, a firm run by
Gavin White as the Group CEO, where he spent 11 years and was most recently
EMEA CCO, stationed at the Cyprus office.

“To be honest, it was more of
a surprise,” Ayres said, that White was encouraged to have the conversation
with us then
discover there was a good fit to be had.

“I’m just happy that we managed to attract someone from a larger competitor,
who I think is a great addition. He’s got great product and operational
knowledge as well as commercial experience. That’s what is the biggest boost
for us.”

Interestingly, Ayres’ company already
works with 26 Degrees from a “commercial perspective,” which he highlighted
“will continue.” Ayres added: “We’ve got a great relationship with them from a
pure trading and clearing standpoint, but it won’t go any further than that.”

Finance
Magnates recently reported exclusively that 26 Degrees is surrendering its
CySEC licence, which it obtained last year. However, it will keep the Limassol
office operational, which will serve as a branch supporting international
activities.

“Focused on Emerging Markets”

With
all the hires, Ayres is slowly expanding Scope Prime’s global reach. He also
pointed out that all the hirings are strategic and “stemming from geographical
exposure.”

“Rostro is specifically
focused on emerging markets with institutional-grade products,” Ayres revealed.
“It’s less saturated, but equally we
know it’s not always easy for asset managers in – for example – parts of Africa
to access competitive pricing, trade equities, and futures… We wanted to take
what we know, the products, our knowledge, and expertise to those markets.”

“What
we’re building from a technology standpoint is a proprietary back office and
reporting suite for our clients,” Ayres continued. “For B2B, we’ve seen it turn
on its head in the fact that clients can access our API or platform, the
market, trade, execute, and clear. But getting data, reporting, and
consolidated information was something we felt, in the past, we didn’t maybe
get.”

“We
would like Scope Prime to be a venue of choice for multi-asset access, with an
element of customisation and a willingness to make things more bespoke for our
clients.”

Highlighting Rostro’s plans, or lack of
them, around prop trading, he said: “It’s one that we haven’t actively moved
towards, and I’m just kind of observing more.”

“We
have other priorities I wanted us to finish rather than try to do too many
things at the same time,” Ayres continued, adding: “But the big motivator with
this prop trading-funded trader product is clarity around regulation… I wanted
to understand a bit more about who’s going to supervise, who’s going to govern
this, who’s going to step in and provide some sort of framework that we can
work with.”

“For me, regulation will give it the stamp of longevity and the fact that
people are looking at it properly.”

“I think we’ll pass 200 or 205 headcounts by the end of the year,” Michael Ayres, Group CEO
of Rostro Group, told Finance Magnates following the hiring spree of Scope
Prime, the liquidity provider under the broad Rostro umbrella. He added: “The hires were really around certain
regions… We won’t keep running at this rate however as otherwise. I’ll
probably end up with more people than I would like to oversee.”

Some
of Scope Prime’s prominent hires include Andrew Taylor, Head of APAC, and
Mirian Rostian, Head of Southeast Asia. It also onboarded Gaby Kanj, an
industry veteran with over thirty years of experience, to focus on operations
in the MENA markets. Fraser Nelson also joined Scope Markets earlier this year
as the Global Head of Business Development.

While
Scope Markets is the retail-centric brand under Rostro, Scope Prime is the
institutional liquidity unit. The B2B brand now has about 15 dedicated
employees, while the total number of Rostro employees globally is 195.

“It Was More of a Surprise”

One of
Scope Prime’s most interesting hires is Lochlan White, who is now its Chief
Commercial Officer. He assumed the role after leaving 26 Degrees, a firm run by
Gavin White as the Group CEO, where he spent 11 years and was most recently
EMEA CCO, stationed at the Cyprus office.

“To be honest, it was more of
a surprise,” Ayres said, that White was encouraged to have the conversation
with us then
discover there was a good fit to be had.

“I’m just happy that we managed to attract someone from a larger competitor,
who I think is a great addition. He’s got great product and operational
knowledge as well as commercial experience. That’s what is the biggest boost
for us.”

Interestingly, Ayres’ company already
works with 26 Degrees from a “commercial perspective,” which he highlighted
“will continue.” Ayres added: “We’ve got a great relationship with them from a
pure trading and clearing standpoint, but it won’t go any further than that.”

Finance
Magnates recently reported exclusively that 26 Degrees is surrendering its
CySEC licence, which it obtained last year. However, it will keep the Limassol
office operational, which will serve as a branch supporting international
activities.

“Focused on Emerging Markets”

With
all the hires, Ayres is slowly expanding Scope Prime’s global reach. He also
pointed out that all the hirings are strategic and “stemming from geographical
exposure.”

“Rostro is specifically
focused on emerging markets with institutional-grade products,” Ayres revealed.
“It’s less saturated, but equally we
know it’s not always easy for asset managers in – for example – parts of Africa
to access competitive pricing, trade equities, and futures… We wanted to take
what we know, the products, our knowledge, and expertise to those markets.”

“What
we’re building from a technology standpoint is a proprietary back office and
reporting suite for our clients,” Ayres continued. “For B2B, we’ve seen it turn
on its head in the fact that clients can access our API or platform, the
market, trade, execute, and clear. But getting data, reporting, and
consolidated information was something we felt, in the past, we didn’t maybe
get.”

“We
would like Scope Prime to be a venue of choice for multi-asset access, with an
element of customisation and a willingness to make things more bespoke for our
clients.”

Highlighting Rostro’s plans, or lack of
them, around prop trading, he said: “It’s one that we haven’t actively moved
towards, and I’m just kind of observing more.”

“We
have other priorities I wanted us to finish rather than try to do too many
things at the same time,” Ayres continued, adding: “But the big motivator with
this prop trading-funded trader product is clarity around regulation… I wanted
to understand a bit more about who’s going to supervise, who’s going to govern
this, who’s going to step in and provide some sort of framework that we can
work with.”

“For me, regulation will give it the stamp of longevity and the fact that
people are looking at it properly.”