StoneX has completed its acquisition of Paris-based fixed income brokerage firm, Octo Finances, as the firm seeks to bolster its presence in the asset class.
The deal was first announced last September, and will see StoneX further enhance its fixed income offering and reach across Europe.
Octo Finances specialises in bond and convertible sales, debt capital markets, and credit research, serving clients including: banks, insurance companies, private debt funds, mutual funds, and private wealth managers.
Anthony Di Ciollo, global head of fixed income at StoneX, said: “We’re thrilled to officially welcome Octo Finances to StoneX Group and believe the company will provide us with significant new capabilities. Our joint planning is well underway, and we are excited by the opportunities for growth for the combined business in Europe.”
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In the lead up to the deal last year, StoneX made a number of fixed income-focused hires across 2024, including former head of trading at Incline Global Management, Evan Halpern who was appointed managing director of fixed income outsourced trading in January, and Simon Pickworth, former MUFG, who was made an institutional fixed income trader for Central and Eastern Europe, Middle East and Africa (CEEMEA) in April.
Speaking at the time the acquisition was announced, Talabor Szabo, chief executive and co-founder of Octo Finances, enthused that “joining StoneX [is] a natural fit for Octo Finances.
He added: “StoneX’s commitment to innovation and client service aligns perfectly with our values and vision for the future. We are thrilled about the new opportunities this acquisition will bring and are eager to work together to enhance our offerings and grow our presence in the market.”