- NCM Financial secures FCA approval, expands to UK with £3.75M capital and strategic leadership appointments.
- Richard Wynn and Simon Henry join NCM Financial UK, enhancing governance and compliance as part of global expansion strategy.
Kuwait-based brokerage firm NCM Financial is making significant strides into the UK market. The firm established a subsidiary, NCM Financial UK Ltd, in late 2021 and embarked on the application process for an FCA license in 2022. On July 22, the FCA officially granted the license, paving the way for NCM’s expansion.
NCM Financial has already infused £3.75 million into its UK subsidiary and begun assembling a strong team. Richard Wynn, former manager of CFI UK, has been appointed Chair of the Governing Body, while Simon Henry, former head of compliance at Exinity, joins as Executive Director and Compliance Director.
Operating primarily in the MENA region, NCM Financial has offices in Kuwait, Jordan, Turkey, and Malaysia. The company also received an SCA Category 1 license for its UAE subsidiary earlier this year. NCM is a major holding of Eshraq Investments’ Goldilocks Fund, which acquired a 51% stake in 2022.