Financial services platform Marex Group plc announced this week that it has agreed to acquire Aarna Capital Limited, a provider of clearing, execution, and risk management solutions in the Middle East.
The move is said to expand the company’s operations in the Middle East and grow its clearing business, aligning with its strategy to broaden its client base, diversify its operations and increase earnings resilience.
Based in Abu Dhabi, Aarna Capital offers a suite of services across energy, base and ferrous metals, as well as financial markets.
The acquisition will provide Marex with a physical presence in the region and access to approximately 180 local clients, including institutional investors, family offices, and corporate clients.
“The acquisition will be highly complementary to Marex’s existing operations in the Middle East, which includes approximately 60 employees in Dubai, and is aligned with Marex’s strategy to bring new clients to its platform, increase the capabilities it can offer existing clients, and grow its global footprint,” said Marex in its press release.
Ian Lowitt, CEO of Marex, highlighted the deal’s potential to drive growth and strengthen Marex’s position in the Middle East.
“This acquisition will give us a presence in Abu Dhabi and will expand our clients and capabilities in the region,” he stated.
Dmitry Nedvetsky, Senior Executive Officer at Aarna Capital, stated. “This is a beneficial step for both parties. Our clients will continue to be serviced by our team but will have access to a greater range of products and services from the broader Marex franchise. Meanwhile, we hope to offer Marex’s clients our services from Abu Dhabi.”
The transaction is expected to close in late 2024, subject to regulatory approval.