ROYAL has ushered in a new era. After years of success, ROYAL has undergone significant changes that further strengthen its position as a trailblazing financial institution in Lebanon. The firm’s name has been changed from Royal Forex Trading SAL to ROYAL FINANCIALS SAL, three new Chairpeople have been appointed (Dr. Zeina Zeidan, Dr. Paul Morcos and Professor Jassem Ajaka) to heighten the firm’s transparency and confidence in the eyes of the public and regulators, and it appointed the first Chairwoman in the history of the financial industry in Lebanon.
An American Success Story
ROYAL FOREX TRADING (RFXT) was launched in 2006 in Florida. Regulated by the USA financial authorities (CFTC) and a member of the NFA, RFXT did exceptionally well. In mid-2008, the firm’s founder, Rayan El Annan made a bold strategic decision to move the “ROYAL-RFXT.COM” brand to Lebanon by starting a financial brokerage firm licensed by BDL.
A Start in Lebanon
Given his experience and impressive track record in the US, El Annan managed to get the green light from regulators in Lebanon and the license in record time. ROYAL opened its doors with only one employee at a time when Electronic Trading Platforms (ETPs) were still not widely recognized in the country.
The Winning Strategy
ROYAL’s main strategy was to offer people access to variable financial markets (FX, Metals, CFDs, Equities, Commodities, Options, etc.) at the lowest possible trading fees. To accomplish this, millions of dollars in investments were channeled into the technology infrastructure of ROYAL. This involved hosting its servers on Tier 1 server hosting environments such as LD4 and NY4 and attracting the proper human resources to service and manage this infrastructure 24/5. This strategy proved to be golden and ROYAL rapidly became renowned for its exceptional pricing and unparalleled customer service. It wasn’t long before it evolved into one of the top brokerage firms in Lebanon. Today Royal has 65 employees and is the number one brokerage firm specialized in offering Lebanese residents and expats access to financial markets via Electronic Trading Platforms. These achievements, and an exponential growth in equity, drove ROYAL to launch phase two of its strategy starting March 2016.
A New Name
By its 10th anniversary, ROYAL had fostered excellent relationships with global financial institutions and amassed in-depth knowledge of the dynamics of the financial markets. This empowered the firm to be in a position to offer investment products in addition to Online Trading in this phase of its venture. To highlight the evolution and growth ROYAL has undergone, the firm’s name was changed from Royal Forex Trading SAL to ROYAL FINANCIALS SAL. ROYAL, the iconic part of this successful brand, was kept while the rest of the name now better reflects the firm’s breadth of expertise. It makes it clear that ROYAL’s main focus in phase 2 is to be the only choice for all your financial needs and requests including speculation, investments, hedging tools, micro-loans, funds, and much more. Despite the name change, ROYAL will continue to stand out in its top notch customer service and profound understanding of clients’ needs.
New Structure and Big Change
As part of its phase two strategy, ROYAL will upgrade its license from a Brokerage Firm (BF) to a Financial Institution (FI). In light of this, the entire firm was restructured to not only strengthen it further, but to ensure solid corporate governance that facilitates the growth it is planning while maintaining transparency and confidence.
The biggest change that came along with this is the appointment of three very high caliber board members to chair its Audit, Risk and Compliance/AML Committees. The media frequently turns to them for their specialized expertise and many banks, financial institutions and governmental bodies regularly seek out their consultancy services.
Making History
The remarkable changes even see the firm making history. Rayan El Annan has strategically stepped down as the Chairman and has appoint Dr Zeina Zeidan as ROYAL’s Chairwoman. While he will remain the CEO, this move sees Dr. Zeidan as ROYAL’s leader and face from this point on. This marks the first time in the history of Lebanon that a woman is at the helm of a leading financial intuition.
As El Annan explains, “I want ROYAL to be known as the first firm that empowered women in such a way. I want the firm to be a pioneer and leader in giving real recognition to intelligent women who deserve to play a central role and have an impactful say in the financial sector in Lebanon. Over the years I have made ROYAL a great success story. But now it’s time to give others the chance to shine and so I step down as the Chairman because I believe I have found the best qualities I was looking for in our new Chairperson who happens to be the first woman in such a position in Lebanon.” Dr. Zeidan added, “I hope ROYAL’s initiative to give women truly equal opportunities will set a trend that sees many women receive the professional acknowledgement they deserve across industries. I know I have what it takes to drive this firm towards even greater success. Using the power of knowledge, insight and vision, I will ensure all our esteemed clients’ financial needs and goals are met.”