just now
October 12, 2022 - Wedbush Financial Services, the parent company of Wedbush Securities Inc., has announced that it is making a 'significant investment' in Velocity Trade, making it the largest outside shareholder (subject to regulatory approval.) Velocity Trade is a global brokerage firm offering access to global OTC and exchange listed markets, as well as customised Wealth Management solutions via its WealthTech product suite. This investment expands Wedbush's global presence in new asset classes and commodities trading, enhancing its robust suite of client offerings, to become one of the world's leading non-bank global multi-asset financial service providers.
Wedbush Securities has recently expanded its international capabilities through various relationships and agreements. With Velocity's offices in Canada, United Kingdom, Australia, New Zealand, the Netherlands, Germany, South Africa and Barbados, along with the company's global regulatory framework and reach, Wedbush's capabilities expand worldwide, providing client's comprehensive access to international markets, world class products and services, including prime services, foreign exchange, wealth management and investment banking.
"Our new partnership with Velocity is a major step forward in the Global vision for our firm," states Gary Wedbush, CEO of Wedbush Financial Services." The unrelenting mission to provide our clients with world-class global multi-asset services will only accelerate with the addition of Velocity's outstanding international capabilities."
"We welcome Wedbush's strategic investment and look forward to working with their team," says Simon Grayson, CEO of the Velocity Trade Group."The combination of Wedbush's expertise and competencies combined with Velocity's unique foreign exchange, derivatives and global multi-asset distribution platform will provide more opportunities and products to deliver on Velocity's client first model. These synergies allow us to further build on our history of growth and profitability that culminated in a record 2021 for the Velocity group."
Financial terms have not been disclosed.
Wedbush Financial Services is a diversified financial services holding company. Its primary subsidiary, Wedbush Securities, which was founded in 1955, has been a leader in the financial services industry, providing its clients, both private and institutional clients, with a wide range of securities brokerage and processing, wealth management, and investment banking services. Headquartered in Los Angeles, California with over 100 registered offices and nearly 900 colleagues, the firm focuses on bespoke client service and the utilization of advanced technology.
Through its global network of wholly owned regulated and registered subsidiary companies, Velocity Trade employs over 170 professionals that provide corporate and institutional clients competitive execution and custody services in a multitude of global over-the-counter (OTC) and exchange listed markets. Velocity Trade offers services in a broad range of markets, including: (i) foreign exchange hedging, trading, settlement and prime of prime; (ii) global equity, fixed income, funds, structured products; and (iii) corporate finance and advisory. Velocity Trade has offices in Toronto, Montreal, Calgary, London, Amsterdam, Hamburg, Johannesburg, Cape Town, Christ Church, Sydney and Auckland.
