Marex Group plc has announced plans to acquire Aarna Capital Limited, a move that aims to broaden its clearing and risk management operations in the Middle East. This acquisition will provide Marex access to approximately 180 local clients and is expected to enhance its service offerings in the region.
Strengthening Middle East Operations
Aarna Capital, based in Abu Dhabi, offers specialized services in clearing, execution, and risk management across various asset classes, including energy, metals, equities, and foreign exchange. With this acquisition, Marex will gain a significant foothold in the Middle Eastern market and add a well-established team to support its growth strategy.
Marex already employs about 60 staff members in Dubai, and the addition of Aarna Capital’s capabilities will complement its existing operations in the region. The deal is expected to provide immediate synergies and support Marex’s expansion in a key growth market.
“This acquisition aligns with our strategic goals and offers attractive financial returns, valued at around three to four times projected profit after tax,” stated Ian Lowitt, CEO of Marex.
Anticipated Profit Boost from 2025
Marex projects that the acquisition will contribute approximately five percent to its net profit after tax starting from the fiscal year ending December 31, 2025. This boost will come from immediate cost savings, reduced internal clearing fees, and increased net interest income through enhanced financing arrangements.
Pending regulatory approval, the acquisition is set to close in late 2024. The addition of Aarna Capital will allow Marex to leverage its broader platform to deliver a wider range of services to its clients in the region and further strengthen its position in the Middle East.
Dmitry Nedvetsky, Senior Executive Officer at Aarna Capital, expressed optimism about the integration: “Our clients will continue to receive high-quality service from our team while gaining access to the expanded offerings of the Marex group. We look forward to introducing new opportunities for both Aarna’s and Marex’s clients across the Middle East.”
The acquisition follows Marex’s recent purchase of Cowen’s prime brokerage and outsourced trading business, which significantly expanded its global reach and operational capabilities.
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