Broking platform hires finance chief

Trading and wealth management fintech Openmarkets has announced the permanent appointment of Hetal Majithia as group chief financial officer.

A finance and technology executive, Majithia has worked with the fintech for the last four months delivering interim financial support on a contracting basis.

Majithia's most recent position was as chief financial officer of Mawson Infrastructure Group where she oversaw its finance function in a US-listed environment.

Earlier, she worked with PwC Australia's CFO Advisory team for four years and at KPMG in the UK for five.

At Openmarkets, she will manage the group's finance function during a transformative period that will see the business expand its B2B product capabilities and market presence.

Majithia will also play a key role in planned corporate activities which includes a Nasdaq listing later this year and a possible merger.

This appointment follows a series of recent strategic initiatives including the sale of the firm's B2C business to Marketech, further capital investment by an Australian private equity firm, the launch of its international equities trading solution and the December appointment of its chief operating officer Rob Forbes.

The fintech also signed a definitive agreement in January 2023 to combine with Nasdaq-listed Broad Capital Acquisition Corp providing the opportunity for parent company OMG to become a publicly traded Nasdaq-listed company.

Openmarkets, chief executive Dan Jowett, said Majithia's international financial management expertise is critical to the business' growth.

"The past six months have seen Openmarkets embark on the next chapter of our growth with our business doubling down on expanding our fintech and financial advisory client base, broadening our B2B product capabilities and refreshing our leadership team accordingly," he said.

"As we pursue a significant B2B market opportunity in 2023 and assess long-term capital financing options in US listed markets, Hetal's expertise and international experience will be invaluable to our business."

Fintechs and their intermediary clients use Openmarkets' industry-leading APIs to connect their front ends to markets, data and news with long-term clients, including Pearler and Tiger Brokers.