RCG's CEO Scott Gordon will be appointed vice chairman of the new Marex Spectron RCG division.
London-headquartered commodities broker Marex Spectron Group Ltd, which also has a global network spanning across North America and Asia, has signed an agreement to acquire the customer business of futures brokerage Rosenthal Collins Group (RCG). The deal is expected to complete in January 2019.
Acquiring Chicago-based RCG, which will continue to operate independently within Marex Spectron's network, will expand the group's US clearing offering to a broader client base. RCG employs 150 staff at its Chicago headquarters.
Established nearly 100 years ago, Rosenthal Collins Group has recently expanded its client base to 14,000 accounts and deepened its introducing broker network. The registered FCM was one of the biggest winners after the collapse of futures broker MF Global, which was one of its biggest rivals.
As part of the deal, RCG's CEO Scott Gordon will be appointed vice chairman of the new Marex Spectron RCG division, while RCG's CFO Jason Manumaleuna will take the role of the new unit's CEO.
The past year saw Marex Spectron solidify its ‎position across global commodities markets, including the expansion of its footprint across North America and Asia. The group has recently developed new metals products for Singapore and strengthened existing European franchises.