INTL FCStone has opted to expand and revamp a core element of its multi-national financial services suite. This includes the restructuring of its metals division with the fundamental aim of providing its growing client base with a more diverse product offering as well as enhanced technological capabilities.
The expansion has culminated in eight new veteran appointments to its metals team. With the goal of fostering a more efficient and state-of-the-art user interface, the effort represents one of INTL FCStone’s largest hiring sprees of 2018.
In particular, the new tranche of hires will be spread across INTL FCStone’s current offices in New York, London, Hong Kong and Singapore. INTL FCStone has been quite active in recent months in terms of hires, following the appointment of Barry Canham as the Global Head of Metals, which coincided with the consolidation of the Base and Precious metals businesses.
Canham commented on the restructuring, “Over the past three years the precious metals business has been transformed into a fully automated, scalable, STP business – which has enhanced the product offering and client experience. Investment in technology has been key to the on-going success, demonstrated by the launch and continued development of our PMXecute and PMXecute+ platforms. But just as key are our people, who provide invaluable insights and value -added service to our clients – an approach that is supported by today’s announcement.”
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INTL FCStone focusing on client experience
The restructuring will not just focus on new appointments but a total metals division realignment. Consequently, the group is aiming to bolster an overall comprehensive client experience, one that effectively strengthens multiple products, price discovery, and execution capabilities.
In doing so, INTL FCStone is hoping to streamline the process of supporting the same, state-of-the-art, technological solutions currently being utilized by INTL’s precious metals customers to its LME ones.
“INTL strives to continually improve its client offerings and by adding experienced talent, combined with the existing team, will create an incredibly strong global unit, which will be further strengthened over the coming months. We look forward to the continued evolution and success of the metals division and the ability to provide best-in-class service to all of our metals customers,” reiterated Canham.
The expansion is the first major move this summer for INTL FCStone since June, when the group made a pair of developments. This included INTL FCStone’s selection of PortfolioScience’s RiskAPI Platform to help control its risk management. Additionally, the group also acquired Luxembourg-based Interdealer Broker, Carl Kliem as a Brexit Hedge.