CMC snaps up over 500,000 share investing clients, pocketing assets of around £24bn
Client assets under management remain at near record levels at online trading platform CMC, as it snaps up over 500,000 share investing clients from ANZ.
The B2B platform acquired the shares in September, which brought an end to the existing white label partnership.
CEO Lord Cruddas said: “We closed the first six months with a pickup in market volatility and client trading volumes following what was a more subdued environment from the start of the year.
“More importantly the big event for the company was the acquisition of the ANZ stockbroking clients.”
The transaction, once completed, will boost the platform’s non-leveraged business with total assets in excess of around £24.1bn from across the half a million investing clients.
The group predicted that its net operating income for the whole year will come in around £250m to £280m.