October 8, 2020 | AtoZ Markets – Switzerland-based fintech investment fund Guru Capital announced Thursday the closing of its acquisition of London-based ETX Capital from UK private equity firm JRJ Group.
The transaction is closing after receiving approval from the UK’s Financial Conduct Authority (FCA). Additionally, Guru Capital partners Luca Merolla and Ryan Nettles have been appointed as non-executive directors to the ETX Capital Board of Directors.
Guru Capital acquires ETX Capital to expand the business in the UK
The acquisition of ETX Capital enables Guru Capital to immediately gain significant market share in the highly competitive UK market. ETX Capital has built a best-in-class CFD business and Guru Capital intends to further expand and grow the brand alongside the company’s talented employees.
Established in 1965, ETX Capital has become one of the UK’s leading online brokers. Moreover,Guru Capital intends to leverage the strong ETX Capital brand, its proprietary technology and its talented team to expand the business in the UK. The team also intends to grow the business globally through M&A activities.
Ryan Nettles, the Managing Partner of Guru Capital, is a seasoned executive with an extensive understanding of the FX industry. Ryan has spent several years at the senior level at Swissquote in Gland, Switzerland, previously heading up important departments of brokerages in North America.
Founded in June 2019, Guru Capital set about its immediate task of seeking investment opportunities to acquire companies in the EMEA and APAC regions which have a special focus on the FX & CFD brokerage sector, asset management, and FinTech.
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For Mr. Nettles, who formed Guru Capital alongside Luca Merolla, who had also previously worked at Swissquote, the completion of the acquisition of a long-established British electronic trading company with substantial standing represents a very good initial milestone.
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