PRNewswire-Asia/ -- Marex Spectron Group ("Marex Spectron") has
agreed to acquire the Global Markets Division of Eden Financial
Limited ("Eden") in a transaction that is expected to complete on
or soon after 29 July 2011. Following the transaction, Eden will
concentrate its activities on its expanding private client and
asset management division.
Marex Spectron has a leading position in On-Exchange metals,
energy and agricultural products and Over-the-Counter energy
markets. The acquisition of Eden's Global Markets Division adds
greater depth to Marex Spectron's financial products, complementing
its financial futures and foreign exchange businesses. In
particular, the Global Markets Division adds non-derivative
products, including European cash equities and fixed income to
Marex Spectron's capabilities, providing clients with unrivalled
access to an expanded offer across a wide range of asset
classes.
Following completion of the acquisition, David Bearman, CEO of
Eden and Bruce Froud, Managing Director and Head of Global Markets,
will join Marex Spectron together with the Global Markets team of
40 people.
Roger Nagioff, CEO of Marex Spectron and co-founder of the JRJ
Group said: "This transaction is another important step forward for
Marex Spectron. Over the past number of years, Eden's Global
Markets Division has established a strong reputation for high
quality and discrete execution services. The new combined business
will enable us to offer clients a much broader product range to
complement our position as the world's largest privately owned
commodities broker. We look forward to our new colleagues joining
us to help drive the business forward."
Stephen Massey, Executive Chairman of Eden Financial said: "Eden
has made a strategic decision to focus on our private client and
asset management capabilities. We have significant growth ambitions
to build on the success of our well-established private client
division and develop an exemplary asset management business. In
Marex Spectron we have found an excellent home for our Global
Markets Division which will enhance this valuable franchise. We
wish our colleagues and the Marex Spectron team all the best in
their future endeavours."
Notes to Editors:
Marex Spectron Group
Marex Spectron Group was formed following the acquisition of
Spectron by Marex in March 2011. It is the world's largest
privately owned commodities broker, with a market-leading position
in On-Market metals, energy and agricultural products and
Over-the-Counter energy markets. The Group also offers clients
financial futures and foreign exchange broking. Clients include
commodity producers and consumers, banks, brokers, CTAs, hedge
funds and professional traders. Marex Spectron Group is a member of
the London Metal Exchange, the CME Group exchanges, ICE US, NYSE
Liffe, ICE Futures and Eurex, and offers access to all major
exchanges in the US and Asia.
The Group is headquartered in London, with offices across the
USA, Asia and Europe. Its subsidiaries are regulated by the
Financial Services Authority in the UK, the National Futures
Association in the US and the Securities and Futures Commission in
Hong Kong.
Marex Spectron Group is majority owned by JRJ Group and its
partners, Trilantic Capital Partners and BXR Group.
For further information, please visit www.marexspectron.com .
Eden Financial Limited
Privately owned and based in the City of London, Eden has two
business divisions. The private client and asset management
division offers asset management, investment advisory services and
financial planning for private clients, intermediaries, charities
and institutions.
Eden's Global Markets Division is a leading equities and fixed
income broker delivering execution services to more than 250
clients comprising investment banks, hedge funds and global money
managers. The business is solely focused on providing high quality
execution, combining the best of smart order routing and
algorithmic trading with high touch expertise from its team of
dedicated traders. The division offers specialist execution
capabilities in event driven, programme trading and equity finance.
Eden was one of the first firms in London to recognise the
importance of independent research. The division supplies
independent research consultancy services combined with full CSA
trade execution and administration to a wide range of hedge funds
and institutional clients. Eden Financial Limited is authorised and
regulated by the Financial Services Authority.