International Assets Holding Corporation Acquires Hanley Group Capital
July 06 2010 - 9:00AM
International Assets Holding Corporation (INTL) (Nasdaq:IAAC) today
announced that it has acquired the Chicago-based Hanley Group of
companies, a respected trading firm and a leader in making markets
in exchange-traded agricultural options, as well as developing
cutting-edge trading technology and risk management capabilities.
Hanley Group has a long history of commitment to the agricultural
markets and is a leading provider of complex over-the-counter
("OTC") structured products tailored for commercial users.
As a result of the all-cash transaction which is expected to
close on July 7, 2010, the companies of Hanley Group Capital will
be combined with FCStone's existing OTC trade desk to provide a
completely integrated solution for the INTL/FCStone global
commercial customer base. This combination brings together the deep
relationships of INTL/FCStone global brokerage and sales network,
with the trading and risk management expertise of Hanley Group
Capital.
Sean O'Connor, CEO INTL, commented, "Hanley Group Capital's
unique expertise further enhances the FCStone risk management
business process by providing commercial customers with the full
range of risk management products including highly customized
solutions. Our combined capability to create complex specialty
products to the commodity industry provides an unmatched and unique
value proposition that sets us apart from our competitors."
George Hanley, CEO of the combined entity, added, "We are
excited to combine our trading and risk management capabilities
with the deep relationships that INTL/FCStone has with their
commercial commodity customers and believe that this will create a
powerful and profitable combination that will benefit employees,
customers and shareholders."
About International Assets Holding
Corporation
International Assets Holding Corporation (INTL) provides
execution and advisory services in commodities, currencies and
international securities. INTL's businesses, which include the
commodities advisory and transaction execution firm FCStone Group,
serve more than 10,000 commercial customers in more than 100
countries through a network of offices in eleven countries around
the world. Further information on INTL is available at
www.intlassets.com.
Forward Looking Statements
This press release includes forward-looking statements including
statements regarding the combined company. All statements other
than statements of current or historical fact contained in this
press release are forward-looking statements. The words
"believe," "expect," "anticipate," "should," "plan," "will," "may,"
"could," "intend," "estimate," "predict," "potential," "continue"
or the negative of these terms and similar expressions, as they
relate to International Assets Holding Corporation, are intended to
identify forward-looking statements.
These forward-looking statements are based largely on current
expectations and projections about future events and financial
trends that may affect the financial condition, results of
operations, business strategy and financial needs of the combined
company. They can be affected by inaccurate assumptions,
including the risks, uncertainties and assumptions described in the
filings made by International Assets with the Securities and
Exchange Commission. In light of these risks, uncertainties and
assumptions, the forward-looking statements in this press release
may not occur and actual results could differ materially from those
anticipated or implied in the forward-looking statements. When you
consider these forward-looking statements, you should keep in mind
these risk factors and other cautionary statements in this press
release.
These forward-looking statements speak only as of the date of
this press release. International Assets undertakes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Accordingly,
readers are cautioned not to place undue reliance on these
forward-looking statements.
CONTACT: International Assets Holding Corporation
Bill Dunaway
866-522-7188
bdunaway@intlassets.com
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