Exclusive: CMC Markets’ Head of APAC & Canada Matthew Lewis to Separate after Two Decades

Matthew Lewis, CMC Markets' head of Asia Pacific and Canada, is leaving the London-listed broker after more than two decades with the company. Lewis, who is based in Sydney, took charge of the APAC and Canada business in mid-2013 and has held that role for roughly 13 years, according to his LinkedIn profile. He first joined the broker in late 2005.

Lewis also served on CMC Markets' board of directors, a position he gave up in the middle of last year. It is not yet clear who will take over as head of Asia Pacific and Canada, and Lewis has not disclosed his next move. CMC Markets declined to comment on what it described as "individual employment matters."

Australia remains the group's second-largest market

The departure comes as CMC Markets has established itself among the leading brokers in Australia, largely through white-label institutional agreements with Westpac and ANZ. The company holds a comparable arrangement in New Zealand with ASB Bank, the country's second-largest bank, covering around 150,000 share trading customers.

Australia generated £115.2 million of the group's revenue in the last fiscal year, an increase of 5.5 per cent, making it the broker's second-biggest market behind the UK, which contributed about £133.4 million. In the company's latest preliminary financial filings, founder and CEO Peter Cruddas said the Australian stockbroking business had secured what he believes is the firm's most significant B2B partnership to date.

CMC Markets is also preparing new products. The broker intends to launch a securities insurance business covering warrants and certificates next year, a product it already offers in Europe. Separately, it is moving into the prop trading market, with the service expected to go live on October 1.