Finalto Appoints a New Group Chief Executive Officer Following the Departure of Hoffman and Greenbaum

Ron Hoffman, Group Chief Executive Officer (CEO) of Finalto Group, and Liron Greenbaum, Group Chief Operating Officer (COO), have parted ways with the financial solutions providers after more than seven years, Finance Magnates has discovered exclusively.

Matthew Maloney, who has served as the CEO of Finalto Financial Services and Finalto Trading since February 2021, will succeed Hoffman as Finalto Group's new CEO.

Hoffman joined Finalto (formerly known as TradeTech Group) in 2015 from Playtech, where he served as the Chief Financial Officer (CFO). Finalto was once Playtech's financial services subsidiary.

Hoffman worked at Playtech for thirteen years, climbing through the ranks from CFO of Sciplay to Vice President (VP) of Finance in 2004. In December of 2012, he would later become the CFO of Playtech.

Last year, Finalto Trading Limited named Hoffman as the company's Director with Jeremy Samuel Schlachter, the former Playtech financial services division's Finance Director.

Greenbaum, on the other hand, joined Finalto Group in 2015 after leaving the trading platform he co-founded, Markets.com. Between October 2007 to December 2008, he served as vice president of operations for Playtech.

Maloney, however, is a veteran of the financial business with almost two decades of expertise. Previously, he served as the CEO of CFH Clearing Limited.

Maloney has worked for prestigious financial institutions such as TTT Moneycorp, FTSE International, the London Stock Exchange, and PricewaterhouseCoopers during the course of his 25-year career.

As of press time, Finance Magnates has not received additional information regarding the movements of the Finalto Group executives. The report will be updated when new information becomes available.

Finalto Sale

Hoffman and Greenbaum's resignation comes more than three months after Playtech sold Finalto to Hong Kong-based Gopher Investments for $250 million.

In September 2021, Playtech's Board of Directors approved the sale, which occurred prior to the 15 July deadline initially established for the acquisition.

According to Finance Magnates, the sale profits were used to retire the outstanding balance of Finalto's revolving credit facility, and the remainder was allocated for general business reasons.

Prior to the sale of Finalto, Playtech made substantial investments in its financial services segment by acquiring CFH Clearing Limited and, later, Alpha Capital Markets for a total of up to $150 million.

Additionally, the company acquired Markets.com for up to €458 million and launched ProMarkets, a brand geared at high-net-worth individuals.