XTB Appoints Theocharis Panayi as General Manager

XTB appoints Theocharis Panayi as the new General Manager for XTB Online Investing, marking a significant expansion of its leadership team. Panayi, a seasoned legal and compliance expert, announced the news on LinkedIn earlier this week, revealing that he will assume his new role in Cyprus this month. 

Before joining XTB, Panayi held the position of Head of Compliance at Klips Official in Cyprus for over two years. He also served as the Head of Legal Compliance at TOPFX LTD in Limassol from 2019, where he was responsible for developing internal controls to prevent money laundering and terrorist financing. 

His experience spans several well-known industry names, including Maxiflex, LG Zambartas LLC, and Hill Dickinson LLP. Panayi holds a law degree from the University of Bedfordshire. His appointment comes at a time of growth and expansion for XTB, which recently celebrated its 20th anniversary with a high-profile partnership with Swedish football legend Zlatan Ibrahimović. 

XTB Appoints Theocharis Panayi as General Manager

Ibrahimović joined the firm’s growing ambassador team, including legendary goalkeeper Iker Casillas. This collaboration is part of a broader media campaign designed to enhance XTB’s global brand presence, coinciding with the launch of a new company logo. 

XTB’s performance has also seen a significant boost, as evidenced by its recent financial report for the third quarter of 2024. The company reported a 60% increase in client acquisition year-over-year, adding 108,000 new clients. Its consolidated net profit surged to PLN 203.8 million, nearly double the earnings from the same time last year. In October, XTB launched two new products to diversify its services further: a virtual wallet with a multi-currency card and Individual Retirement Accounts (IRAs) for Polish users. 

The multi-currency card is already operational in Portugal and the Czech Republic, marking a key step in the company’s ongoing European expansion. With Panayi’s extensive compliance and legal affairs background, XTB is poised for continued growth and strengthened leadership in the online investing space.

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