RJO Mena, the regional subsidiary of Chicago-based futures broker RJ O’Brien & Associates, has acquired Lombard Forte Securities, a Dubai-based interdealer broker.
No financial details of the transaction were disclosed, but it does expand both RJO’s presence in the region as well as its product range.
Lombard specialises in cash equities, equity derivatives, structured product and exchange traded funds.
As part of the deal, Lombard’s chief executive and co-founder, Kunal Savjani, will take on the role of senior executive officer at RJO Mena as well as managing director, global head of equities and credit sales for RJ O’Brien.
"This acquisition of Lombard Forte aligns perfectly with our strategic goals of expanding our product offering into credit and equities markets, further building on our over-the-counter presence, and broadening our geographic reach into some of the most exciting emerging markets in the world today," said Gerald Corcoran, chairman and chief executive at RJO.
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