Leadership Update

Flow Traders announced the resignation of Folkert Joling as Chief Trading Officer and Executive Director of the Flow Traders Board, and the appointments of Bill Stush, Tamara Maris-Mravunac and Aaron Dimitri as new members of the firm's Global Executive Committee.

Folkert Joling has decided to step down as Chief Trading Officer and Executive Director of the Flow Traders Ltd. Board.

Folkert joined Flow Traders in 2006 as a trader and became Head of Trading in 2011. He was promoted to Global Head of Trading and became member of the Flow Traders B.V. Board in 2016. Folkert was promoted to Chief Trading Officer and member of the Management Board of Flow Traders N.V. in 2018. After more than 17 years at Flow Traders, Folkert has decided to step down as Chief Trading Officer and Executive Director of the Flow Traders Ltd. Board as of 1 September 2023 to pursue other interests outside of Flow Traders. Folkert will be handing over his responsibilities over the coming weeks until the end of his Board agreement on 15 September 2023.

In his role as Chief Trading Officer, Folkert was responsible for and had tremendous influence on the development and realization of Flow Traders' trading strategies, business development, trading processes and daily trading operations. Over the past 17 years, Folkert has contributed greatly to the growth of Flow Traders and its evolution into a global trading firm.

The Global Executive Committee members representing Trading and Technology will assume Folkert's duties moving forward and will be supported by the entire Board.

Flow Traders further strengthens its Global Executive Committee with the appointments of Bill Stush, who will Lead the development of Flow Traders' U.S. growth strategy and Tamara Maris-Mravunac and Aaron Dimitri, who will focus on bolstering the firm's global risk and compliance functions.

Bill Stush has been appointed as CEO Americas and member of the Global Executive Committee.

As CEO Americas, Bill will be responsible for developing Flow Traders' growth strategy in the region, for the development of the firm's key regional growth initiatives and for managing relationships with all partners externally. Bill will be responsible for the day-to-day operations of the U.S. offices and will be supported by the broader leadership team in the region. Additionally, he will represent the Americas region within the firm's Global Executive Committee.

Bill joined Flow Traders in 2016 as Head of Sales with a focus on building out the firm's U.S. counterparty network and off-exchange trading business.

Bill succeeds Matheus Haserick-Lara, who served as Managing Director Americas.
Matheus recently stepped down from his role at Flow Traders to pursue other opportunities.

Tamara Maris-Mravunac has joined Flow Traders as Global Head of Risk and member of the Global Executive Committee.

Tamara has been appointed Global Head of Risk and member of the Global Executive Committee as of1 June 2023. She joins the firm from ING Bank N.V., where during her 23-year tenure she held various senior roles within ING's Financial Markets division and therefore brings extensive experience in internal and external risk management to the firm. Most recently, she was Head of Financial Markets & Global Business Services for the Netherlands at ING.

As Global Head of Risk, Tamara will be responsible for the management of Flow Traders' risk function alongside its underlying risk profile as well as for the systematic enhancement, implementation and management of the firm's risk framework, policies, and processes.

Aaron Dimitri, Global Head of Compliance and General Counsel Americas, has been appointed member of the Global Executive Committee.
 
Aaron Dimitri, Global Head of Compliance and General Counsel Americas at Flow Traders also joined the Global Executive Committee as of1 June 2023. Aaron joined Flow Traders in 2017 as a Compliance Officer and was appointed Global Head of Compliance in 2022. He oversees Flow Traders' global compliance function and is responsible for compliance protocols as well as representing the firm in regulatory matters, proactively monitoring and advancing the compliance program. Additionally, he advises on all of the firm's strategic growth initiatives globally to ensure full regulatory compliance.

Mike Kuehnel, CEO, commented:
"On behalf of the firm, I would like to thank Folkert for his dedication to Flow Traders over the past 17 years. During his tenure, Folkert has contributed significantly to the development of Flow Traders and its transition into a global diversified trading firm. We are very grateful that he has dedicated his time and effort to Flow Traders for all these years and we wish him all the best with his future undertakings.

"At the same time, we are delighted to further strengthen Flow Traders' global leadership layer with the appointments of Bill, Tamara and Aaron to our Global Executive Committee. As CEO Americas, Bill will add significant value to the firm's existing and future growth initiatives in the U.S. and further build out Flow Traders' footprint in the region.

"The appointments of Tamara and Aaron to our Global Executive Committee also bring the firm's control functions closer to the development and execution of our strategic priorities while simultaneously increasing the visibility of our regulatory agenda across the firm. Tamara brings extensive experience and highly relevant risk capabilities to the firm and Aaron's experience has resulted in the enhancement of Flow Traders' compliance function, which has transformed into a leading global function within the firm."