Abel Noser announced today it has finalized the previously announced management-led buyout of the firm along with private equity fund Estancia Capital Partners, L.P. The transition of the business to the second generation of senior management after the retirement of its founding partners will empower Abel Noser to continue to grow its existing businesses, including trade analytics services, transaction compliance, and agency-only brokerage inclusive of transition management (TM) services. Using current and new technologies, Abel Noser plans an expansion of its core businesses, as well as investment in additional services the firm has been developing such as fixed income transaction cost analysis (TCA) and additional trade surveillance products.
As part of its growth initiatives, the firm announced it has made two key hires in an effort to further strengthen its European analytics practice and TM services. Gregor Paterson joins the London based team in the analytics group coming over from Aberdeen Asset Management where he focused on TCA as a buy-side trader. Additionally, Tom Mackell III, who has over 20 years' experience working with asset owners including large Taft Hartley funds, joined Abel Noser as a Senior Vice President of Sales in New York.
The firm's origins date back to 1975, when Abel Noser was launched as a brokerage offering institutional investors low-cost, high-quality trading. In 2007, the firm launched Abel Noser Solutions, an independent, broker-neutral provider of transaction analysis products and services. Today, Abel Noser continues to pioneer new methods and tools to help over 400 clients measure their trading results using the firm's secure industry-leading universe of annual trade data consisting of over $7.5 trillion dollars in traded principal in global equities in addition to global foreign currency and Futures.
"Our product solutions are built on innovative and scalable technology serviced by experienced and customer centric professionals across all of our measurement and agency execution products," said Ted Morgan, the new CEO of Abel Noser Holdings, LLC. "Our immediate growth areas will be in multi-asset and fixed income TCA and trade surveillance. I look forward to spending time in the coming months with our clients and listening to their evolving needs and partnering with them as we enhance our products to best serve the institutional community."
"The market for trading oversight and cost containment is expanding globally and across asset classes," said Peter Weiler, President of Abel Noser Solutions, LLC, the firm's wholly-owned financial technology subsidiary. "As a firm with superior technology offerings, we are uniquely positioned to benefit from this sea change in our industry."
Anthony Conroy, President of the firm's brokerage arm, commented that "as an execution broker, Abel Noser has always been and will continue to be the ultimate client advocate. We possess trading relationships with institutions across the globe and we leverage our expertise and understanding of trading behavior and costs to help clients receive measurably superior executions."
"We are delighted to partner with Abel Noser, who is a perfect complement to our portfolio of institutional investment management firms and related financial services companies. We invest in organizations with secular tailwinds, industry recognized brands and growth-oriented management teams, and firmly believe this company possesses all three," stated Takashi Moriuchi, a founding partner of Estancia