Marex Buys ED&F Mann Capital Markets
Posted by Colin Lambert. Last updated: August 2, 2022
Consolidation in the broker-dealer world with news that Marex Group has agreed to acquire rival ED&F Mann’s capital markets business.
Marex says the deal his will materially expand its client offering in clearing, add to its metal franchise and to the nascent businesses in fixed income and equities. It will also extend the firm’s global footprint in Dubai and APAC and create a US franchise.
“The business is an excellent fit with our existing capabilities, and I am excited by the opportunity of working across the significantly strengthened and expanded global footprint,” says Ian Lowitt, CEO of Marex Group. “Marex is gaining a high-quality global team. Underscoring our commitment to grow and better serve our clients, this acquisition creates a more competitive, diversified and resilient firm which will provide an enhanced client offering as well as more opportunities for our staff. This is an exciting time for the firm, and we anticipate a bright future for the combined businesses.”
Jade Moore, group executive director of ED&F Man, adds, “Over the decade since its creation, ED&F Man Capital Markets has grown to become a financial brokerage operating at the heart of the global financial services ecosystem. On completion, a new chapter will start as part of Marex and with the benefit of their market leading platform. The sale of ED&F Man Capital Markets is very much in line with our group’s strategic plan to focus on our core soft commodities trading businesses. Marex will be able to provide the appropriate resources and investment to enable the firm to achieve its full potential and we are therefore confident that this change in ownership will be to the benefit of all our stakeholders.”