GFI Group Acquires Team from Phoenix Partners group
Economies of Scale and Seamless Integration expected
New team will join GFI's Latium Capital division
NEW YORK, May 8, 2013
NEW YORK, May 8, 2013 /PRNewswire/ --GFI Group Inc. (NYSE: "GFIG") announced
today that it has agreed to acquire certain assets of Phoenix Partners Group,
an independent interdealer broker operating mainly in the international credit
and equity markets. As part of the transaction, GFI will be taking on
approximately 32 brokers (divided between New York and London offices) and
additional operational and management staff.
Headquartered in New York with an additional office in London, Phoenix
Partners Group provides a range of intermediary services to a largely
institutional, financial client base, in credit and equities. In credit,
Phoenix follows a hybrid business model, combining voice broking with
Colin Heffron, CEO GFI Group, commenting on today's announcement, said: "We
are very pleased to welcome the team from Phoenix Partners into GFI Group.
Nick Stephan and Marcos Brodsky and their team share with us the same
commitment to providing customers with an execution model that allows for
experienced brokers to work hand in hand with the most sophisticated trading
technology. This transaction presents numerous synergies and opportunities
that we look forward to executing alongside our new colleagues."
Nick Stephan, CEO of Phoenix Partners Group said: "This is an exciting moment
for our team. We are very happy to be joining GFI, who has a highly focused
business model and a firm belief in the critical role experience and
technology provide. GFI is an innovator in the brokerage space and we will
work to contribute to expanding its presence in the market."
About GFI Group Inc.
GFI Group Inc. (NYSE: "GFIG") is a leading provider of wholesale brokerage
services, clearing services, electronic execution and trading support products
for global financial markets. GFI Group Inc. provides brokerage services,
market data, trading platform and analytics software products to institutional
clients in markets for a range of fixed income, financial, equity and
Headquartered in New York, GFI was founded in 1987 and employs more than 2,100
people with additional offices in London, Paris, Nyon, Hong Kong, Manila,
Seoul, Tokyo, Singapore, Sydney, Cape Town, Santiago, Bogota, Buenos Aires,
Lima, Dubai, Dublin, Tel Aviv, Los Angeles and Sugar Land (TX). GFI Group Inc.
provides services and products to over 2,600 institutional clients, including
leading investment and commercial banks, corporations, insurance companies and
hedge funds. Its brands include GFI^SM, GFInet®, CreditMatch®, GFI
ForexMatch®, EnergyMatch®, FENICS®, Starsupply®, Amerex®, Trayport® and Kyte®.
Certain matters discussed in this press release contain forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. When used in this press release, the words "anticipate," "believe,"
"estimate," "may," "might," "intend," "expect" and similar expressions
identify such forward-looking statements. Actual results, performance or
achievements could differ materially from those contemplated, expressed or
implied by the forward-looking statements contained herein. These
forward-looking statements are based largely on the expectations of GFI Group
Inc. (the "Company") and are subject to a number of risks and uncertainties.
These include, but are not limited to, risks and uncertainties associated
with: economic, political and market factors affecting trading volumes;
securities prices or demand for the Company's brokerage services; competition
from current and new competitors; the Company's ability to attract and retain
key personnel, including highly-qualified brokerage personnel; the Company's
ability to identify and develop new products and markets; changes in laws and
regulations governing the Company's business and operations or permissible
activities; the Company's ability to manage its international operations;
financial difficulties experienced by the Company's customers or key
participants in the markets in which the Company focuses its brokerage
services; the Company's ability to keep up with technological changes;
uncertainties relating to litigation and the Company's ability to assess and
integrate acquisition prospects. Further information about factors that could
affect the Company's financial and other results is included in the Company's
filings with the Securities and Exchange Commission. The Company does not
undertake to publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
For any queries or additional information please contact:
Vice President - Public Relations
GFI Group Inc.
55 Water Street, 28th Floor
|New York, NY 10041
Tel: (212) 968 2964
Mob: (646) 717 4379
SOURCE GFI Group Inc.
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