Makor Group Continues Growth With Two Senior Hires in London Office

LONDON, May 7, 2019 /PRNewswire/ — The Makor Group (“Makor”), an international agency brokerage group trading cash equities, fixed income, FX and derivative products, announced today that Steven Horkulak has been appointed Chief Operating Officer of Makor Securities London Ltd and Todd Foreman has been appointed Chief Legal Officer of Makor Group. 

The two senior hires reflect Group’s ongoing growth.  Horkulak, 55, will report to Makor Group founders Michael Halimi and Avi Bouhadana and will be based in London.  He has served as an executive officer in the interdealer broker industry for over 20 years and brings with him extensive UK and European business and regulatory expertise.  Horkulak was previously a colleague with Mr. Halimi at Cantor Fitzgerald. 

Horkulak said, “I’ve watched Michael [Halimi] and Avi [Bouhadana] build a fantastic institutional business from the ground up.  I’m delighted to be joining such a dynamic company during its expansion.”

Foreman, 45, will report to the Makor Group Board of Directors and will be based in London.  He has over 18 years’ experience as a New York and English qualified lawyer, including private practice experience at leading international law firms White & Case and Freshfields Bruckhaus Deringer, and in-house experience at Deutsche Bank, Société Générale, JP Morgan and Barclays.  He brings expertise in US, English and European securities law, finance and regulatory matters.  Foreman holds a B.A. in French and political science from Grinnell College, a J.D. from the University of Pennsylvania Law School and an LL.M. in Banking and Finance law from King’s College, London.

Foreman said, “With its track record, global operations and ongoing expansion, it’s an exciting time to join Makor.  I’m looking forward to working closely with Makor’s leadership to build a top quality in-house legal function as the Group grows.”

Mr Bouhadana said, “I am pleased to welcome Steven and Todd at Makor family.  I have no doubt that they will take us to a new level of professionalism. With their experience and our entrepreneurial spirit, I am absolutely convinced that Makor will reach a new level of excellence.”

Mr Halimi said, “I am very excited to work again with Steven Horkulak after so many years. His expertise in our products and markets is a great compliment to our existing business, and I am sure he will be able to help us build on our success.”

Notes to editors:

About Makor (

The Makor Group is an international brokerage firm established in March 2011 by Michael Halimi and Avi Bouhadana, two ex-senior managers at Cantor Fitzgerald Europe. Makor is authorized and regulated by the FCA and Makor’s core business is to provide financial securities research and execution to institutional investors across a spectrum of products including Cash Equities, Fixed Income securities, Derivatives and FX.  

With offices in New York, Chicago, London, Paris, Geneva, Gibraltar, Tel Aviv and Singapore, and over 120 group employees, Makor offers its clients 24-hour global trading providing a single point of contact for more than 90 execution venues in cash equities only. 

Makor provides its clients with original and innovative trading ideas specializing in risk arbitrage, special situations, relative value and event-driven opportunities for clients and regularly ranks in the Top 3 of the Thomson Reuters EXTEL risk-arb research surveys.

Makor acts only as an agent and is therefore not susceptible to the various conflicts in the industry. Makor takes no proprietary positions and as such acts wholly and exclusively for the benefit of the client. Makor’s understanding of local markets and extensive client relationships built over 30 years industry experience, allows it to tap into local institutional portfolios in order to maximize liquidity for clients.  

Besides the client relationships Makor has strong relationships with global custodians and prime brokers. These international custodians, which provide essential services across all asset classes, are the oil that keeps the trading engine running smoothly. Prime brokerage services including custody and trade settlement are as important to the clients as the execution itself and in some cases even more important. Settlement of trading activity needs to be timely and problem free. 

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