American Express Company announced at the end of last week its intention to purchase Sharepeople Group PLC, the holding company of Sharepeople Ltd, one of the leading online brokerages in the UK, subject to approval by the necessary regulatory authorities and shareholders of Sharepeople. The deal will mark American Express' entry into the UK's growing online brokerage business. American Express is paying approximately £29.9m (US$44m) for the company, which will be known as American Express Sharepeople.
Sharepeople has more than 18,000 accounts in the UK. It offers mainly private investors the ability to trade in UK and US equities, as well as unit trust products. The www.sharepeople.com website provides after-hours order placing, as well as research and information from leading information providers such as BARRA and Standard & Poor's.
Jim Cracchiolo, President of Global Financial Services at American Express, said in a press statement: 'This acquisition is a part of our strategy to become a leading provider of financial products and services around the world. We want to be as well known in financial services as we are in cards and travel.'
Ruediger Adolf, General Manager at Global Brokerage & Membership B@nking, added: 'Sharepeople gives us a platform to quickly build our brokerage business in a very attractive market. Sharepeople is a leader in the UK market with a strong set of products that are ideal for our launch of brokerage services in the UK.'
.
Network Tweets Archive
| Resources | Partners
| Site Map | Links
| Newsletter
Archive | Contact
| RSS Feeds
About | Syndication |
Advertising & Marketing |
Recruitment |
Terms & Conditions |
Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
All content provided by BSI Media
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment