October 18, 2022Edgewater Markets, a provider of technology, trade execution and liquidity aggregation across foreign exchange (FX) and precious metals, announced the addition of Paul Thomas and Charles Achoa to its sales team. Thomas, based in the firm’s Connecticut headquarters, will focus on expanding the firm’s reach and distribution to the buy side, and Achoa, based in São Paulo, will contribute to the growth and development of the company’s Latin American presence.

Thomas has over 24 years of experience in foreign exchange sales and trading development and relationship management, spending the past 6 years in platform sales at BidFX and FlexTrade. Earlier he worked in the banking sector, with foreign exchange sales roles at Citibank, BNP and AIG Trading Group.

“I am very fortunate to have the opportunity to join Edgewater Markets in the midst of their expansion,” said Paul Thomas. “I look forward to helping to further expand their reach into the institutional buy-side and sell-side trading communities.”

“We are excited to have Paul and Charles join our growing sales teams,” said Managing Director and Head of South America, Jose-Antonio Buenaño. “Paul comes to our Connecticut headquarters with extensive industry knowledge, experience and a solid network of institutional investors. He will be instrumental in further developing our roster of buy-side clients.” Buenaño added, “Charles brings his impressive Wall Street career to our sales team in our São Paulo office as Brazil has become the most relevant market at this stage in our development of Edgewater’s LATAM buildout.”

Achoa has over 28 years of experience in sales, derivatives, investment banking and client management. Most recently, he served as venture capital investor and financial consultant for Brazilian institutions. Prior to that, he was a Managing Director and Head of Latin America at RBS’s Global Banking & Markets Group. He also previously worked for major Wall Street firms including Credit Suisse, DLJ, Swiss Bank and Chemical Bank.

“I’m glad to have joined Edgewater at a time when we are introducing our technology to the Brazilian market,” said Charles Achoa. “These are exciting times; FX and other asset classes are moving toward more efficient trading, enhanced by real advancements in technology, particularly in the NDF space. We are uniquely positioned to bring our clients leading-edge technology that compresses execution costs and maximizes traders’ abilities to reach onshore liquidity and inventory.”

Edgewater has seen 90% year-over-year growth in overall volume traded on Edgewater technology. This near-doubling was driven by 300% growth in non-deliverable forwards (NDFs) and a 35% increase in precious metals.