The London based non-banking issuer of structured products has acquired a multi-asset broker.
Global energy, commodities and financial markets specialist Marex has agreed to acquire Volcap Trading (Volcap), an independent multi-asset broker, as it moves to expand the group’s offering in structured products and commodities brokerage.
Going forward both sets of clients will be able to access a broader product offering and the synergies for Volcap will be immediate, with the operations integrated directly into the existing Marex client platform. Volcap will continue to trade under the Volcap brand and remain under the leadership of Nathan Van Paesschen and Gregory Spaenjaers. The Volcap team will move into Marex’s offices.
Marex has established full end-to-end manufacturing and distribution capabilities within Marex Financial Products.
“This capability helped us to attract Volcap, one of the most successful structured note brokerages to the Group,” Nilesh Jethwa (pictured), chief executive officer at Marex Solutions Division, told SRP, adding that the acquisition is a good fit for the Marex and Volcap businesses, with similar mindsets.
“Volcap’s entrepreneurial and long-term growth mindset makes them a great fit for the team. Combining Marex FP’s structured product manufacturing capabilities and technology platform, with Volcap’s distribution makes both teams stronger.”
Since it was established in 2015, Volcap offers soft commodity brokerage and a bespoke structured product business that designs, structures and implements investment strategies across a wide range of financial assets. The business operates out of offices in London and Paris, with 19 employees and an extensive network of corporate customers, private banks, asset managers and family offices clients across Europe, Middle East, Asia and the Americas.
This is the latest in a series of recent Marex acquisitions that have included execution-only physical oil broker Starsupply, equity derivatives firm XFA in Chicago, recycled metals market-maker Tangent Trading in London, and equity volatility market maker, BIP Asset Management in Paris.
The acquisition adds to the company’s softs offering and will be a good fit with its ‘fast-growing structured products business, Marex Solutions, which has been an important success for the firm’, according to Marex CEO Ian Lowitt.
‘This addition will not only diversify our earnings but will expand Marex into several new and interesting markets,’ he said. ‘It is a good example of acquiring a smart, fast-growing, business that is straightforward to integrate and simultaneously strengthens our overall client product offering'.