FX industry veteran Marco Baggioli has been promoted to take up the role of chief operating officer (COO) and general manager for business development at M-DAQ, an Alibaba-backed Singapore-based fintech.
The promotion comes barely eight month after . BNP Paribas’ former global head of FX prime brokerage joined M-DAQ in March as general manager for business development and chief of staff in the chief executive office.
M-DAQ is one of established fintechs in South Asia, valued at more than $200 million in 2018. In 2015, it received an investment from Ant Financial, the Alibaba affiliate that runs its payment gateway Alipay, as part of its $87 million series C fundraising round.
Baggioli will leverage his vast experience to help selling the M-DAQ suite of FX products, including a guaranteed-rate conversion service, to a network of top-tier corporates in Asia and building new business relationships. These products include Aladdin, a technology that allows e-commerce platforms to make cross-border transactions less costly and with more predictable rates for merchants.
Baggioli has nearly three decades of . His most prominent role in the retail space had been with ADSS Group, formerly ADS Securities. He joined the firm in 2015 during a time when the heavyweight brokerage shifted focus towards the Middle East and relocated to Abu Dhabi.
Prior to joining , he spent six years as head of FX prime brokerage and head of OTC clearing at BNP Paribas. Before his long stint with the French lender, Baggioli held a similar role at Deutsche Bank, as head of FX PB Sales for Europe and Asia-Pacific. At the early stage of his career, which dates back to 1990, he held a number of senior institutional sales roles at Merrill Lynch and JP Morgan, where he acted as head of fixed income and prime brokerage for the EMEA region.
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