Arman Tahmassebi, former CEO of ETX Capital, has moved to Flagstone as COO. According to the firm's information on LinkedIn, Flagstone enables firms to offer clients the option to save. Founded in 2015, the London-based firm manages more than £11 billion in assets and allows clients to maintain multiple cash savings accounts.

Extensive fintech experience

Tahmassebi spent nearly three years at ETX Capital, which changed its name to OvalX before closing, where he served as COO and later CEO. He then moved to LendInvest, a UK-based fintech company, as COO.

Tahmassebi served as COO of London Capital Group from 2015 to 2016. In addition, the seasoned executive spent more than 14 years as Managing Director for Europe and South Africa, and later as Head of Global Operations at IG.

In 2022, ETX Capital was renamed OvalX FinTech Sturdy, Oval, following a service integration with its sister company. Philip Adler, Oval Money's then-CEO, expressed enthusiasm for the transition, emphasizing the company's vision to redefine itself as a modern financial services entity.

OvalX Revealed

OvalX has become a strong entity in the financial services sector, with operations in Italy, the United Kingdom and Cyprus and 180 professionals. Despite the rebranding, the core services of both platforms remain the same, in line with the company's commitment to customer satisfaction and service excellence.

In addition to the rebranding, ETX Capital also announced plans to expand its global footprint by obtaining a new license from the South African Financial Markets Regulator. The move is intended to give OvalX access to the fast-growing African market.

However, OvalX permanently ended its operations last year. The company offered clients the option to transfer their accounts to Capital.com to maintain continuity of service. Additionally, layoffs within the organization hinted at deeper, fundamental problems at the once-respected brokerage firm before it collapsed.