The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.
FOREIGN EXCHANGE

They do things differently at Goldman

I have to express admiration for Goldman Sachs – it really does do things differently.

For instance, I got an invite to an informal cocktail party it is hosting; but far from being the traditional pre-Christmas jolly loved by journalists, Goldman is holding it in January – the month when most of us go on the wagon.

On a more serious note, it was announced on Wednesday that the bank is planning to take a 10% stake in CMC Markets. I’ve heard rumours for the best part of a year that something was up between the two companies, but I would not have guessed it was this.

Neither company will divulge how much Goldman is paying. In February of this year, CMC’s founder and executive chairman Peter Cruddas said he believed the company was probably worth in excess of £1 billion (Trading platforms: CMC postpones float to 2008, Euromoney). In a press release announcing the tie up with Goldman, Cruddas, who still owns around 95% of the company, says: “I am delighted to welcome Goldman Sachs as an investor and partner in CMC who shares our vision and drive to grow the business over the coming years. We have been growing at 40% per annum and have expanded our presence to 22 offices globally, but there are considerable opportunities still to realise.”

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree