Tiago da Costa
Cardoso
15+ years turning open markets into revenue. I build broker commercial operations from zero, globally.
I build and lead the commercial and marketing engine behind market expansion: the sales and partner teams, the IB and affiliate deals, the revenue models and funnels that turn a market entry into steady run-rate. I've done it greenfield and I've done it as a turnaround. I hire the people, set the structure, and stay close enough to the detail to know why a target lands, or doesn't.
From regional launch to global mandate.
My work starts before a market exists on the company's books. I've opened branches from a standing start, with no team, no marketing engine and no brand, and built them into desks doing millions a month in deposits. The other half of the job is the reverse: taking a commercial operation that already exists, restructuring it and scaling the team in place. Either way, I treat each market as its own build, not a copy of the last.
Underneath the growth is the machinery: revenue models for CPA, rev-share or hybrid deals, funnels tuned stage by stage, IB and partner networks run end to end. I've led teams from three people to over a hundred across multiple countries, and I still work in the detail that makes a target land, not just the plan that says it should.
From a Lisbon sales desk to the global commercial seat.
Commercial Director
Current- Lead commercial strategy and global business development across MENA, South Asia and LATAM, standing up the on-the-ground teams to hit business-plan targets.
- Structure IB and affiliate partnership deals, building revenue models — CPA, rev-share and hybrid — tailored to each region.
- Driving market-entry across three new regions (LATAM, MENA and South Asia) and rebuilding the end-to-end sales funnel, with conversion up to 9% across sales units.
Global Head of Business Development
- Directed commercial strategy across LATAM, Africa, MENA and Central Asia, achieving 40% year-on-year revenue growth through regional expansion and stronger sales structures.
- Restructured and scaled the commercial department, adding leadership roles, training and performance frameworks to lift efficiency and accountability.
- Partnered with marketing, product and compliance to deliver go-to-market strategies aligned to regional regulation and client needs.
- Produced executive performance reports and market insight for shareholders, driving data-led decisions at group level.
SVP, Strategic Business Development
- Built and led the global growth engine across Introducing Brokers, Strategic Partners and BDMs — the source of roughly half the company's revenue.
- Recruited and managed a team of 30 global Business Development Managers, expanding the footprint into Africa, LATAM, MENA and Asia.
- Ran the Partner Relations team, growing revenue from existing Strategic Partners and IBs through structured account development.
Global Head of Business Development & Partners
- Owned global growth strategy across IBs, Strategic Partners and BDMs, growing partner-driven net deposits by 70%.
- Managed a 100+ person business development and partnerships organisation across MENA, LATAM, Africa and Europe.
- Set and executed company-wide sales targets, with training and monitoring that hit 100% of target.
IX Social Product Owner
- Owned the IX Social copy-trading product, onboarding over 200 Strategy Providers and growing volume to roughly 20% of total company trading volume.
- Created the Strategy Providers business line and equipped the international sales team to drive adoption.
Regional Manager — LatAm & Iberia
- Launched the INFINOX Lisbon branch from scratch, growing net deposits from $0 to an average of $2M/month.
- Created and executed the regional marketing strategy across LATAM and Iberia.
- Scaled the Business Development and Account Management team from 3 to 15.
Senior Account Manager & Team Leader
- Grew XTB's share of Portugal's retail CFD volume to roughly 65% at its peak, through client acquisition and trading guidance.
- Led a team of six in prospecting, pitching and closing new clients, driving revenue through structured follow-up.
- Acted as company spokesperson and regular markets commentator for Portuguese national media, including Negócios, Diário Económico and Diário de Notícias.
How I work.
Commercial & growth
- Go-to-market strategy for new markets
- Revenue modelling — CPA, rev-share, hybrid
- Sales funnel design & conversion optimisation
- Partner & IB network development
- Copy-trading & social investment products
Leadership & operations
- Hiring & scaling teams, 3 to 100+
- Performance frameworks & training programs
- P&L ownership & revenue forecasting
- Cross-functional alignment — marketing, compliance, product
- Executive reporting for shareholders & boards
Markets
- CFD & FX industry expertise
- Regulatory alignment across jurisdictions
- MENA, LATAM, Africa, Europe, South Asia
- Financial media commentary & public speaking
- Trilingual — Portuguese, English, Spanish