FNZC buys OMF

FNZC chief executive James Lee said the two businesses were a perfect fit for each other.

“OMF’s strong expertise in derivatives, foreign exchange, carbon, commodities and futures complements our offerings at FNZC,” Lee said.

“We’ve been investing in FNZC to create New Zealand’s leading capital solutions group. This transaction is part of that strategy. There is limited overlap in what the two firms provide, so with OMF joining our business we will be able to offer the clients of both companies an even better range of products and services.

“Derivatives are a natural tool to hedge risk in a volatile world and it makes sense for FNZC to have the capabilities to offer these products to our clients.