Marex Announces Completion of ED&F Man Capital Markets Limited's UK Business Acquisition
Marex, an essential tech-enabled liquidity hub connecting clients to global energy, commodity and financial markets, today announced that it has completed the acquisition of global financial brokerage ED&F Man Capital Markets Limited's UK business.
This is the first phase in the acquisition of the global ED&F Man Capital Markets business, which was announced on 1 August 2022. Approximately 125 London-based employees providing Clearing, Metals, FF&O and FX services to clients, as well as extensive support and control functions, will be joining Marex from today. The acquisition of the remaining ED&F Man Capital Markets entities (including in North America, Hong Kong, the DIFC and Australia) is still subject to regulatory approvals, which is anticipated by year-end.
Ian Lowitt, Marex CEO, commented: "This is the first stage in acquiring the ED&F Man Capital Markets business and is an important step for our firm. These two businesses are a great fit, creating increased scale, a broader product range and deeper teams. We are adding a large number of new clients and some great people to Marex, which will result in a more competitive and resilient firm."
Jade Moore, Group Executive Director of ED&F Man, added: "We would like to thank all the ED&F Man Capital Markets Ltd clients and employees transferring to Marex today and to wish them every success in the future. This marks an exciting new era, and I am sure that the business will go from strength to strength."
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