OM acquires stake in U.K. back-office outsourcing provider
Stockholm-based OM has acquired a controlling interest in JHC Securities, a London-based provider of outsourcing, clearing and back-office solutions to stockbrokers and asset managers.
The deal extends OM's "Back Office for Hire" capability to the U.K. market and supports its efforts to build transaction-based revenue, the company states. Terms of the transaction were not disclosed.
Curt Brill, OM's global head of markets, Banks & Brokers, states, "JHC Securities is a perfect strategic fit for OM, and this deal represents a significant step in growing our transaction processing and outsourcing business in the U.K. market." More than 50 securities-market participants use OM for outsourced solutions.