Odeon Capital Group is expanding into the international broker-dealer marketplace by partnering with Hobart Capital Markets to form a new joint venture division in London, Odeon Hobart Partners.
The partnership establishes Odeon’s footprint in the UK allowing the company to expand its trading, research and sales capabilities, which span traditional and esoteric debt classes.
The goal of Odeon Hobart Partners is to offer institutional clients in the UK and throughout Europe the ability to execute high yield transactions with a transparent focus.
The firm will execute trades based upon Odeon’s independent research, which provides analysis across a variety of interest-based instruments.
“Since Odeon’s inception in 2009, we have seen tremendous growth within the US market and we are proud of the unparalleled service we have been able to bring each and every one of our clients,” says Evan Schwartzberg (pictured), chief executive of Odeon. “By using Hobart’s systems and market presence as an established London-based broker-dealer, we believe that Odeon will be better equipped to provide best-of-breed execution in overseas markets.”
Under the terms of the agreement, Odeon Hobart Partners will operate as a division of Hobart and will be regulated by the UK Financial Services Authority.
“At Hobart, we pride ourselves on the fantastic relationships we have built with our institutional clients, based on a first-class service from trade to settlement together with access to our established pan-European working partners,” says Colin Thomas, chief executive of Hobart. “We welcome the opportunity to join forces with Odeon in the debt sector, a market where we had no previous presence. We are confident that the new division will establish itself quickly in its own right thanks to the expertise that Odeon brings to OHP.”
