Day: April 26, 2024

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Deriv promotes Rakshit Choudhary from COO to co-CEO

Rakshit Choudhary promoted to co-CEO

Deriv promotes Rakshit Choudhary from COO to co-CEO

  • Rakshit Choudhary promoted to co-CEO, partnering with Founder and CEO Jean-Yves Sireau
  • Deriv refreshes its leadership model as it gets set to celebrate its 25th anniversary

    Rakshit Choudhary, co-CEO of Deriv

Rakshit Choudhary, co-CEO of Deriv

CYBERJAYA, Malaysia, April 26, 2024 (GLOBE NEWSWIRE) — In a significant move for the online trading company, as it approaches its 25th anniversary, Deriv has announced the promotion of Rakshit Choudhary from Chief Operating Officer (COO) to co-Chief Executive Officer (co-CEO). The co-CEO model will capitalise on the different strengths and diverse perspectives of both leaders.

Choosing the co-model is not just a strategic move for Deriv. It lets the organisation incorporate diverse viewpoints and teamwork into critical decision-making to keep the business agile. This double leadership framework also creates an environment where reciprocal respect and shared accountability are standard practices and balances individual autonomy with a collective vision.

Jean-Yves Sireau, Founder and co-CEO of Deriv, said: “Rakshit is a great leader with a deep understanding of Deriv’s business, so his move to co-CEO is a natural step forward for us. It is like the synergy you see in pair programming—improved decision-making and better alignment of goals.

“Deriv turning 25 is a moment for reflection. Refreshing our leadership model makes us well-positioned to take on the next phase of Deriv’s business, which is focused on expanding globally and engaging more deeply with diverse markets. This dual leadership approach helps keep Deriv innovative and committed to excellent customer service and strong partnerships.”

Choudhary, who holds a Master’s degree from Georgia Institute of Technology, joined Deriv in 2009 as a Quantitative Analyst and then Head of Quantitative Development & Research. His next role at Deriv was Head of Product Development before his promotion to COO in 2018.

Rakshit Choudhary shared his thoughts on his new role: “I have been lucky to be part of Deriv’s incredible growth and evolution for the last 14 years, witnessing firsthand its mission to make trading accessible to anyone, anywhere. At the centre of this is a focus on staying innovative, secure, and accessible. I look forward to continuing to grow Deriv’s business globally alongside Jean-Yves, as we take the company into another successful 25 years.”

Deriv has also transitioned to a co-CFO model with Jennice Lourdsamy, previously Head of Accounts and Payments taking a double leadership role as co-CFO alongside Louise Wolf, the current CFO. The co-leadership mindset does not end at the C-level. It is practised across Deriv at all levels, in line with the company’s values of integrity, competence, customer focus, and teamwork.

Deriv remains committed to its principles of leadership excellence, marked by clear vision, result-oriented approaches, continuous learning, and a bias for action. These principles are embedded in daily operations and are critical to achieving Deriv’s mission of making advanced trading solutions accessible worldwide.

About Deriv

For 25 years, Deriv has been committed to making online trading accessible to anyone, anywhere. Trusted by over 2.5 million traders worldwide, the company offers an expansive range of trade types and boasts over 200 assets across popular markets on its award-winning, intuitive trading platforms. With a workforce of more than 1,400 people globally, Deriv has cultivated an environment that celebrates achievements, encourages professional growth, and fosters talent development, which is reflected in its Platinum accreditation by Investors in People.

PRESS CONTACT
pr@deriv.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2a2adfa8-5309-4a67-88cf-69d000020b5a

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NDMA issues advisory for rain spell predicted in parts of country from today

The National Disaster Management Authority (NDMA) has issued an advisory for public during rain spell predicted in most parts of the country from today till Monday.

According to the advisory, some regions in Balochistan, Khyber Pakhtunkhwa, Gilgit Baltistan, and Kashmir are expected to receive heavy to moderate rains, windstorm, and hailstorm, with snowfall over high mountains.

Landslides and mudslides may lead to potential road blockages in Upper Khyber Pakhtunkhwa, Galiyat, Murree, Gilgit Baltistan and Azad Jammu and Kashmir.

Residents near riverbanks and nullahs have been advised to be aware of rising water levels and evacuate if necessary.

Farmers are advised to remain extra cautious and plan agricultural activity accordingly during the spell.

Source: Radio Pakistan

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Modern water filtration plant inaugurated in D.I Khan

Station Commander Dera Ismail Khan Brigadier Aamir Hayat inaugurated a modern water filtration plant and a reconstructed Government Higher Secondary School building in Daraban area of Dera Ismail Khan.

The filtration plant was installed by Pakistan Army to provide clean drinking water to local population.

The school building was destroyed in a terrorist attack on December 12, 2023 and it has been reconstructed by Pakistan Army.

The Station Commander also held a jirga with local notables to discuss peace and security in the area.

On the occasion, Brigadier Aamir Hayat assured the locals that Pakistan Army will not allow any terrorist elements to disrupt the peace.

Source: Radio Pakistan

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AJK President asks overseas Kashmiris to expose Modi govt’s nefarious designs

President Azad Jammu and Kashmir Barrister Sultan Mahmood Chaudhry has asked overseas Kashmiris to play a role to expose Modi government’s nefarious designs in the region.

Talking to Washington based Kashmiri delegation in Islamabad today, he said it is high time that Kashmiri expatriates should use their political and diplomatic clout to help stop the continued bloodshed and state terrorism in Indian Illegally Occupied Jammu and Kashmir.

Source: Radio Pakistan

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Govt launching Margalla Trail Patrol: Interior Minister

Interior Minister Mohsin Naqvi has said the government is launching Margalla Trail Patrol to protect the beautiful trails of Margalla Hills in Islamabad.

In a statement on social media platform X, he said the step has been taken especially for the safety of foreigners, who love to visit these beautiful places.

The Interior Minister said our security cover includes trail bikes, horse and foot patrols.

Source: Radio Pakistan

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NDMA forecasts flooding in upper regions of Kabul River

The Spokesperson of National Disaster Management Authority has said flood is expected in the upper regions of Kabul River due to heavy rains.

In a statement, he said parts of Nowshera and Charsadda could be affected due to flood during the expected rains from tomorrow.

In this regard, the NDMA instructed all concerned departments including PDMA to be on alert to deal with any emergency situation.

The NDMA further asked the concerned departments to disseminate awareness messages among the masses to cope with the situation.

Source: Radio Pakistan

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World Intellectual Property Day being observed today

World Intellectual Property Day is being observed today.

This year, the theme of Day is “IP and SDGs: Building Our Common Future with Innovation and Creativity”.

Addressing a news conference in Islamabad, to share details of the celebrations to mark the Day, Chairman Intellectual Property Organization Pakistan, Farukh Amil, emphasized the critical role that intellectual property plays in fostering innovation and creativity.

In her remarks, Director General IPO Pakistan Shazia Adnan said the IPO also plans to launch a series of events and workshops throughout the year about intellectual property and sustainable development.

Source: Radio Pakistan