ADSS' CCO and Head of Front Office Exit Company as Departures Continue

Abu Dhabi-headquartered brokerage ADSS, formerly known as ADS Securities, has announced the departures of two senior executives, Roland Danielczyk and Michael Taylor.

Mr Danielczyk, Chief Compliance Officer (CCO) of ADSS, has departed his role. He joined the brokerage as Head of Compliance back to November 2017, and then was promoted to CCO after 8 months. 

Prior to joining ADSS, Mr Danielczyk worked at Saxo Bank from March 2016 to October 2017 after spending more than 4 years with Coutts, a London-headquartered private bank and wealth manager. Over the course of his career, Mr Danielczyk also held various compliance and risk management roles at Credit Suisse, ING and Deutsche Bank.

Mr Taylor became Head of Front Office in 2020, following the departure of Fabian Chui, who is now COO at digital assets trading firm Paratus Capital.

In October, ADSS UK reported its 2020 figures with a significant drop in annual revenue and annual profit. Specifically, ADSS UK's revenue reached £3.09 million in 2020, down 38% year-over-year from £4.99 million the previous year. The company's gross profit was £3.01 million, down from £4.97 million the previous year.

ADSS has faced a wave of executive departures this year. Second half of the year alone has seen six senior employees to leave the company. In July, Paul Webb, CEO of ADSS UK, and Trevor Beagrie, Chief Financial Officer, have departed their roles. In August, Tarek Nabil, longtime ADSS executive,  has left the company to join CySEC-licensed Capex.com as Chief Operating Officer (COO). Francis Lee, CEO of ADSS Asia since 2015, will part ways with ADSS at the end of 2021, according to sources.

ADSS has not yet announced the successors of Mr Danielczyk and Mr Taylor. The reasons why these key names have jumped from ADSS to other companies remain unknown. Departures from senior employees have only added to the impression of instability.