StoneX to Acquire The Benchmark Company, Adding Capabilities in Investment Banking
Rhea-AI Summary
StoneX Group Inc. (NASDAQ: SNEX) has announced the acquisition of The Benchmark Company, , a full-service investment banking firm. The strategic move aims to enhance StoneX's capabilities in equity and debt capital markets, particularly strengthening its equity research and investment banking services.
Benchmark, headquartered in New York City with nationwide operations, brings over 35 years of experience in client service, market access, and industry expertise. The firm's Founder and CEO, Richard Messina, will continue leading the division within StoneX.
The acquisition will establish a franchise-level equity research and investment banking platform at StoneX, leveraging Benchmark's research capabilities and StoneX's global distribution network. The transaction, which is subject to regulatory approval and customary closing conditions, is expected to enhance service delivery to institutional and commercial clients in global capital markets.
AI-generated analysis. Not financial advice.
Positive
- Expansion into equity research and investment banking services
- Access to Benchmark's established 35-year market presence
- Enhancement of debt capital markets capabilities
- Retention of key leadership with Benchmark's CEO continuing role
Negative
- Regulatory approval pending and could delay or affect closing
- Integration costs and challenges may impact short-term performance
News Market Reaction – SNEX
On the day this news was published, SNEX gained 1.81%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
NEW YORK, March 11, 2025 (GLOBE NEWSWIRE) -- StoneX Group Inc. (the “Company”; NASDAQ: SNEX) has signed an agreement to acquire The Benchmark Company, LLC (“Benchmark”). This strategic acquisition will strengthen StoneX’s offerings in equity and debt capital markets, with significant enhancements in equity research and investment banking.
The Benchmark Company is a full-service investment banking firm offering a robust sales and trading platform, award-winning equity research, and a highly experienced investment banking team. Headquartered in New York City and operating nationwide, Benchmark has been delivering exceptional client service, market access, and deep market and industry expertise for over 35 years. Richard Messina, Founder and CEO of Benchmark, will continue in his role, leading the division within StoneX.
Jacob Rappaport, Global Head of Equities at StoneX, commented:
“The acquisition of Benchmark establishes a franchise-level equity research and investment banking platform at StoneX, significantly elevating our equities capabilities. This strategic move strengthens our ability to deliver deep market insights, superior execution, and comprehensive solutions to institutional and commercial clients in global capital markets.”
Richard Messina, Founder and CEO of Benchmark, added:
“By integrating StoneX’s exceptional capabilities and global reach, we can amplify our legacy platform and drive significant value for our clients. This marks an exciting new chapter of growth for Benchmark, with a shared commitment to accelerating StoneX’s impressive growth trajectory.”
Anthony Di Ciollo, Global Head of Fixed Income at StoneX, stated:
“The addition of Benchmark’s research and expertise significantly enhances our expanding debt capital markets offering. This partnership will leverage our extensive global fixed income distribution network and drive mutual success, delivering even greater value to our clients worldwide.”
Completion of the transaction is subject to regulatory approval and customary closing conditions.
About StoneX Group Inc.
StoneX Group Inc., through its subsidiaries, operates a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high touch service and deep expertise. The Company strives to be the one trusted partner to its clients, providing its network, product and services to allow them to pursue trading opportunities, manage their market risks, make investments and improve their business performance. A Fortune 100 company headquartered in New York City and listed on the Nasdaq Global Select Market (NASDAQ:SNEX), StoneX Group Inc. and its more than 4,400 employees serve more than 54,000 commercial, institutional, and payments clients, and more than 400,000 retail accounts, from more than 70 offices spread across six continents. Further information on the Company is available at www.stonex.com.
About The Benchmark Company
Founded in 1988 and headquartered in New York City, The Benchmark Company, LLC, is an institutionally focused firm specializing in research, sales and trading, and investment banking services. With operations across the United States, Benchmark is dedicated to promoting client success by delivering superior service, market access, and in-depth industry expertise. Further information on the Company is available at www.benchmarkcompany.com.
Inquiries please contact:
Jacob Rappaport at jake.rappaport@stonex.com
