KCG Holdings has completed the acquisition of Neonet Securities, an independent agency broker and execution specialist based in Stockholm, Sweden.
The Neonet business, which will operate as a subsidiary of KCG and be renamed KCG Neonet, will continue to be based in Stockholm and led by CEO Tim Wildenberg.
KCG Neonet provides clients with global execution services and capabilities, leveraging KCG’s expanded foothold in continental Europe and the technologies of both businesses.
Philip Allison, chief executive officer of KCG Europe, says: “Neonet’s talented team of specialists and commitment to client service make them an ideal strategic partner for KCG as we expand our European presence and offerings. Neonet is at a terrific place in its trajectory, and we look forward to capitalising on exciting opportunities as a combined business.”
Wildenberg says: “This is an exciting new chapter for Neonet’s business and one that will meaningfully and quickly benefit every one of our clients. By putting Neonet and KCG together, we will be able to offer a broader set of global offerings and execution solutions, backed by a deeper range of expertise and skillsets from both firms.”