StoneX Hires SWIFT’s Edward Phelps as Head of Gross sales Technique

# StoneX Appoints SWIFT Veteran Edward Phelps to Lead Sales Strategy Division In a notable leadership transition within the global financial services sector, StoneX International Payments has recruited Edward Phelps, a seasoned SWIFT executive, to spearhead its sales strategy operations. Like a veteran quarterback changing teams but bringing his playbook of experience, Phelps has transitioned to the StoneX Group subsidiary that specializes in facilitating cross-border payments to emerging international markets. By announcing his appointment on Friday, Phelps concluded a chapter that spanned more than five and a half years at SWIFT, where he had cultivated extensive expertise in the intricate ecosystem of international financial transactions. His career trajectory at SWIFT was remarkably diverse, beginning in 2017 within Enterprise Development focusing on corporate clients before pivoting to SME and Client Strategy leadership in February 2021 – positions that undoubtedly equipped him with the strategic vision StoneX now seeks to leverage. For organizations navigating the increasingly complex landscape of global payments, Phelps brings particularly valuable experience from his nearly five-year tenure at Ebury prior to SWIFT, where he managed foreign exchange sales and related responsibilities. This appointment comes surprisingly close to another high-profile SWIFT departure, with Vikesh Patel, a prominent SWIFT executive, recently assuming the presidency of Cboe Clear Europe under the Cboe Global Markets umbrella less than a month ago. Over the past year, the StoneX Group – which has built its reputation by offering clients a comprehensive suite of execution, post-trade settlement, clearing, and custody services – has been actively reshaping its executive landscape through strategic promotions and new appointments. In December, the organization elevated Rana Khatlan to manage marketing and events across Europe, the Middle East, and Africa, following Adam Dance’s November promotion to Product Director within StoneX Retail, the Group’s specialized division for FX and CFD trading. The corporate reshuffling occurs against a backdrop of regulatory challenges, however, as StoneX navigates turbulent compliance waters. In an exceptionally concerning development for shareholders and clients alike, two StoneX subsidiaries have recently come under regulatory scrutiny. The National Futures Association (NFA) has imposed a significant $1 million penalty on StoneX Markets for compliance-related pricing violations – a fine the subsidiary has agreed to pay without explicitly admitting or denying the allegations. This regulatory intervention follows closely on the heels of another substantial fine – a $700,000 penalty levied by the NFA in December against GAIN Capital, another StoneX subsidiary. The regulator specifically highlighted compliance deficiencies at Forex. Com, one of GAIN Capital’s retail foreign exchange brokerage platforms, as the catalyst for this enforcement action. Despite these regulatory headwinds, StoneX continues strengthening its leadership team, demonstrating its commitment to transforming its operational framework while addressing compliance concerns that have recently plagued certain divisions within its corporate family.