Read time: 1 min

Marex Spectron Acquires Customer Base of RCG

Commodity broker Marex Spectron has signed an agreement to acquire the customer business of Rosenthal Collins Group (RCG), an independent Futures Commission Merchant (FCM). 

The acquisition is expected to complete in January 2019 and Marex says it will maintain the RCG name and brand, gain 14,000 client accounts and balances, 150 associated staff and the Chicago headquarters. RCG has little overlap with Marex Spectron’s existing North American business, which operates out of New York, Calgary, Connecticut and Houston, the firm says.

Upon completion of the deal, Scott Gordon, RCG’s chairman and CEO, will become vice chairman of the new Marex Spectron RCG division, and Jason Manumaleuna, RCG’s president and chief financial officer, will be appointed CEO of the Marex Spectron RCG division.

“Acquiring the RCG FCM business is an exciting development that adds a very strong FCM brand to our business mix, establishes a foothold for Marex Spectron in the critical Chicago marketplace, and elevates our US clearing to the top tier,” says Ian Lowitt, CEO of Marex Spectron. “It is a great fit with our existing agricultural business and fast-growing Marex Solutions’ customised hedging services.”

Gordon adds, “Joining forces with Marex Spectron creates tremendous value for RCG’s clients and brokers. There is great chemistry between the two firms as we share similar philosophies and cultures. We will have access to new services and capabilities on a global scale with the outstanding products and infrastructure that will soon be integrated into our offering.”

Colin Lambert

Share This

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on reddit

Related Posts in