New Leadership for the Prop Firm
In the latest acquisition in the funded trading space, forex industry veteran Joshua Dentrinos has partially acquired the German-registered prop trading company Funded Peaks.
As part of the agreement, Dentrinos will also serve as the interim CEO of the prop firm, replacing Pasquale Jungwirth.
Jungwirth, who has led Funded Peaks for the past 11 months, will focus on reorganizing the company's internal structure during his tenure.
Jungwirth will remain the largest shareholder and focus on the company's trading and technology aspects.
Dentrinos stated, "After careful review, we concluded that our skill set combined with the existing resources is a perfect fit for long-term collaboration."
Headquartered in Munich, Germany, the company has over 10,000 active clients, with approximately 12,700+ members in its Discord channel, 12,000 followers on Instagram, and 13,000 followers on Twitter. However, the number of funded traders on the platform remains unclear.
Preparing for Possible Regulation
As the interim CEO, Dentrinos' primary task is to establish a good reputation for the company among traders. The company will also begin preparing for possible industry regulation and increasing transparency.
Previously, the European Securities and Markets Authority conducted preliminary checks on prop firms and discussed the possibility of industry regulation. However, the regulatory body has not yet made any public statements regarding plans for prop trading.
Jungwirth said, "At Funded Peaks, we always strive for excellence, constantly seeking ways to improve and innovate."
"Bringing Josh on board adds a wealth of experience and expertise that not only meets our current needs but also positions us optimally to address the upcoming challenges in the industry. His track record in successfully managing high-level enterprises aligns perfectly with our long-term vision."
Reference：Exclusive: Prop Trading Firm Funded Peaks Partly Acquired by FX Veteran Joshua Dentrinos
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