According to information obtained by Finance Magnates, AxiCorp has just finalized negotiations with FIXI plc and will be formalizing a strategic alliance between the companies. A newly constituted Board and Executive structure will be put into place at Fixi and both AxiCorp CEO Goran Drapac and General Manager of AxiTrader Alex MacKinnon will be looking to join the former.
The strategic alliance is targeting additional growth on the institutional market in London. Finance Magnates’ reporters have confirmed with AxiCorp that both brands will continue operating separately. Since Fixi doesn’t hold a retail clients license from the U.K. Financial Conduct Authority, the company will continue its focus on the institutional sector. At the same time, AxiTrader will benefit from a synergy in operating efficiencies which the companies will enjoy as part of the newly-formed alliance.
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The office of Axi will be relocating to the Fixi offices, located in Cannon Street in the City of London.
The General Manager of AxiTrader Alex MacKinnon, expressed his confidence in the benefits from the deal, “Fixi as well as Axi are confident that the synergies and operating efficiencies that will be gained from the alliance will give our clients a fantastic scope of enhanced services.”
Both companies will retain their separate regulatory status with the FCA.