Equinti Group is in exclusive discussions to take ownership of D2C platform Selftrade as French parent Boursorama cuts its losses on the business.
Boursorama said this morning it has signed an exclusivity letter with Equiniti in order to transfer Selftrade clients to the latter company later this year. The execution-only platform is home to over 200,000 accounts and around £4bn in assets. In a statement, Selftrade said: "Following a strategic review, we have entered into exclusive discussions with the aim of transferring our customers and the Selftrade brand to Equiniti. This process is expected to conclude in Q4 2014, subject to regulatory approval." "Yesterday Equiniti entered into exclusive discussions with Selftrade regar...
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