Almost 11 months after JFD Brokers started the acquisition of the investment bank ACON, the German financial industry regulator Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) as well as the Central Bank of Germany (Bundesbank) approved the deal. With the acquisition, the multi asset broker and portfolio manager JFD Brokers enhances its product portfolio with investment banking, trading and advisory services as well as new target markets in South-East Asia and Latin America.
The acquisition helps JFD expand into different directions by offering digital asset management, on-exchange stock trading and investment advisory services. With an investment banking licence now on its belt, the firm is about to strengthen its positions as a respected financial institution.
JFD Brokers Founder and CEO Lars Gottwik commented:
Having ACON Bank – with its Exchange Memberships of Deutsche Börse, Vienna Stock Exchange and some regional German exchanges – within JFD’s group of companies is just another major milestone in our roadmap but there is much more to come as we see in this acquisition plenty of growth opportunities. The door is open for us into the (digital) investment banking world where we will be able to meet the needs of both the young generations (in terms of execution and investment services) and the corporations (with innovative capital and liquidity solutions). Our target markets will expand to Latin America and South-East Asia while we retain our strong position as a market leader in Central Europe.
The CEO of ACON Bank, Dr. Michael Hasenstab, added:
We are excited to become an integral part of JFD, where we can leverage from its global operations while bringing outstanding experience in investment banking, trading services (including designated sponsoring, market making and institutional sales trading), as well as in the provision of advisory solutions for institutional clients in terms of M&A and debt financing.
Both entities agreed on keeping the paid amount for this acquisition confidential.