Pepperstone has appointed Andrew Turnbull as its new Head of Africa, putting a senior financial services executive in charge of the Australia based online trading provider’s strategy across the continent.
Based in Nairobi, Turnbull will oversee Pepperstone’s African operations as the company increases its focus on markets where online trading platforms are gaining traction and regulators are placing greater emphasis on oversight.
The appointment brings Turnbull back to the foreign exchange and contracts for difference industry after more than a decade away. He previously spent almost 20 years in senior positions at ODL Securities and FXCM, where he worked across institutional sales and partnerships.
Turnbull left FXCM in 2013 to establish alternative property finance company Wellesley Group Investors before returning to the trading industry with Pepperstone.
Pepperstone Puts Africa Under Regional Leadership
Pepperstone’s decision to place its Africa leadership in Nairobi highlights the importance of having local and regional expertise as the company operates across markets with different regulatory frameworks and customer profiles.
Marc Boever, Head of EMEA at Pepperstone, said Africa consists of different regulatory environments and trader profiles, making local resources and regional expertise important to the company’s strategy.
He said Turnbull’s background in regulated financial services and institutional partnerships, alongside his experience in markets such as Kenya, would support his new role.
The company is also investing in greater ownership of its technology infrastructure, which it says will give it more control over the trading experience and allow it to respond more closely to market specific needs.
Why Kenya Matters
Turnbull’s appointment comes against the backdrop of Kenya’s position as one of the earlier African markets to establish a formal regulatory framework for online forex trading.
Pepperstone is licensed by Kenya’s Capital Markets Authority, giving the country particular relevance to the broker’s African strategy.
Turnbull said Kenya’s early regulatory framework has contributed to the development of its online trading market, while noting that trading communities and market conditions differ across the continent.
“There is a growing appetite for online trading across the continent, but every market is different,” Turnbull said.
He added that his focus would include working with Pepperstone’s teams and partners to better understand the different trading communities across Africa.
A More Fragmented African Market
For brokers operating across Africa, regional expansion comes with a market structure that varies considerably from country to country.
Regulatory requirements, financial market development and customer behaviour can differ between jurisdictions, making a single continental strategy difficult to apply uniformly.
Pepperstone’s appointment of a dedicated Head of Africa therefore gives Turnbull responsibility for navigating these differences as the company looks to strengthen its presence across the region.
His return also brings experience from institutional financial services into a market increasingly shaped by digital platforms and changing regulatory expectations.
The appointment gives Pepperstone a senior executive focused specifically on Africa as the company continues to develop its regional operations from its Nairobi base
Techmoni Africa tracks the Fintech, Web3, and Forex stories defining Nigeria, Kenya, and Ghana. Have a story that deserves attention? Reach our editorial team at info@techmoniafrica.com