Marex Group to acquire Aarna Capital, terms not disclosed

Marex Group has agreed to acquire Aarna Capital to expand its operations in the Middle East and grow its clearing business, in line with its strategy to broaden its client base, diversify its operations and increase earnings resilience. Based in Abu Dhabi, Aarna Capital provides clearing, execution and customised risk management solutions in energy, base and ferrous metals, as well as financial markets such as equities, fixed income and FX. The acquisition of Aarna Capital will provide Marex with additional capabilities in a new location and access to around 180 local clients, which includes institutional investors, family offices and corporate clients, through a well-established and respected team. 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. The transaction is expected to be accretive to earnings and contribute around five percent of Marex Group’s profit after tax from fiscal year ended 31 December 2025 onwards. This includes anticipated day one synergies from Aarna Capital’s business activity flowing through the Marex platform, with savings from internalising clearing fees and higher net interest income through Marex’s financing relationships. In addition, Marex has identified significant scope for future growth by adding new clients in the Middle East through these additional capabilities and from cross-selling Aarna Capital’s products to existing clients. This acquisition is expected to close in late 2024, subject to regulatory approval.