Montreux Capital Management Zug AG has acquired the foreign exchange and payment service provider, GC Partners Group Limited, in order to take advantage of the $5 trillion daily trading volume in the forex market. According to an official statement, Montreux mentioned that acquiring this company with 20 years of service experience is a valuable opportunity.
Montreux focuses on the expansion of the forex market.
GC Partners is a financial services provider that facilitates global fund transfers. It reportedly traded over $12.5 billion in forex in the past year alone. It has a global presence in major markets such as the UK, Hong Kong, and Dubai. This is a key driving factor behind the acquisition.
Acquisition refers to the act or process of acquiring, possessing, or protecting property, services, or abilities. Simply put, it is an act or process of gaining or obtaining. You can acquire a piece of art, you can acquire the ability to speak another language, you can acquire shares of a company or corporation through acquisition, and you can also acquire the services of an accountant. For example, you can buy a new car. Broadly speaking, acquisition can refer to the act of owning or possessing something. There.
Platform is provided by GC Partners to private, corporate, and investment clients. These portals allow clients to engage in cross-border transactions.
Commenting on the deal, Andrew Fundell, GC Partners, stated, “Through this acquisition, GC Partners will be able to accelerate its growth strategy, expand its business scale, and strengthen its global operations.”
Payment, as one of the foundations of the modern exchange medium, refers to the transfer of legal currency or equivalent currency from one party to another in exchange for goods or services. The payment industry has become part of modern business, although the participants and methods of exchange involved have undergone significant changes over time. Specifically, the payer is referred to as the payor, while the payee reflects the individual or entity that receives the payment. Most commonly.
Infrastructure, to complement their expertise in providing efficient and reliable solutions to over 150,000 clients, facilitating the transfer of funds to more than 125 markets worldwide.”
Montreux reportedly plans to leverage this technology to enhance their service levels through operational simplification. The technology upon which GC Partners operates is expected to enable Montreux to excel in the FX market.
Oliver Harris, CEO of Montreux, said, “This strategic move aligns with our vision to expand our presence in the financial services industry and enables us to tap into this rapidly growing market. Leveraging GC Partners’ expertise, we anticipate rapid global growth as we plan to double our business scale in the coming years.”
Earlier this year, GC Partners appointed Nicholas Iggulden, former CFO of ETX Capital, as their CFO. ETX was a forex and contract for difference broker that rebranded from OvalX before closing last year.
It is worth noting that Iggulden initially served as a financial advisor at GC Partners before being promoted to CFO. Prior to his promotion, he held multiple positions at ETX, including chartered accountant and finance director, ultimately serving as CFO.