Marco Baggioli, an FX industry expert, has joined the business development segment of M-DAQ as the chief operating officer. M-DAQ is a subsidiary of the market giant Alibaba.com. The subsidiary is based in Singapore and has been growing steadily over the past few months.
Baggioli has worked with ADS Securities as chief operating officer. It is, in fact, on this capacity that he was adjudged to be qualified for this new role.
This promotion is coming after joining the company recently in March. He was the former Chief of Staff and business manager in the firm until his promotion as the chief operating officer.
As one of the foremost Fintech companies in Sout Asia, M-DAQ has a market capitalization of $200 million. Four years ago, the company got an investment lift from Ant Financial, a subsidiary of Alibaba that’s responsible for its Alipay payment gateway. M-DAQ received $87 million to help the company establish properly and stay ahead of the competition. The main aim is to facilitate cross-border transactions with an effective payment gateway.
M-DAQ says the appointment of Baggioli is a good move
M-DAQ has strived to make cross-border transactions a swift experience for users. The Fintech giant carried out about S$6.5 billion worth of cross-border transactions last year, according to the company’s site. And this year alone, it has already surpassed that level. With the vast experience that Baggioli has, the company expects that he will help facilitate the business process to make cross-border transactions more efficient than before.
With this appointment, the firm expects Baggioli to use his experience to push the company further than its current level. He has gained considerable experience over the years, before joining M-DAQ in March. Baggioli has built business relationships and facilitated the growth of Aladdin, an e-commerce portal for efficient cross-border transactions.
The experience of selling FX products of the firm to top industry stakeholders will come in handy as well.
Baggioli has worked in the FX industry for nearly 30 years. The last role he handled in the retail segment was with ADS securities, a company he joined in 2015. At that time, ADS was relocating and changing its base to Abu Dhabi.
He has also worked in other companies in a similar capacity before Joining ADS as its COO. Baggioli was head of FX BP sales at Deutsche bank. He represented the company in the Asia Pacific and Europe.
Baggioli has led so many organizations as head of institutional sales. When he was starting his carrier, he held a lot of senior positions. The FX industry expert held such roles at JP Morgan and Merrill Lynch as far back as 1990. There he was the head of prime brokerage and fixed income. At BNP Paribas, he was the head of OTC clearing, as well as head of Prime FX brokerage firm. With this vast level of experience within the industry, M-DAQ expects him to improve their overall business processes