Marex Reports 18% Jump in Net Revenues in 2020

Marex recently announced its financial results for the year ended 31 December 2020. The company’s net revenue reached $414.7 million in 2020, compared to $352.2 million in 2019. Marex has reported the seventh consecutive year of increased earnings.

According to the official announcement, gross revenues touched $762.4 million in 2020, which was a jump of 37% compared to 2019. The adjusted operating profit before taxation reached $61.5 million in 2020, compared to $53.4 million in 2019.

Marex also highlighted the importance of its acquisition strategy in the company’s recent expansion. The company mentioned significant success from organic growth despite the challenges of the Coronavirus Coronavirus The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, Read this Term pandemic.

Commenting on the latest announcement, Ian Lowitt, CEO of Marex, said: “I am delighted to report another outstanding set of results. With Covid and working from home, 2020 was an extraordinary year, and I am truly proud of how our employees stepped up to the challenge. Notwithstanding the market conditions, we continued to perform at a very high level, achieving record profitability for the seventh year in a row, growing revenues and profits consistent with our historic trajectory of 15% to 20%, to new records.”

During 2020, Marex made significant commitments regarding different ESG initiatives including its commitment to being carbon neutral by 2022.

Acquisitions

Marex mentioned that it has closed 2020 with more than $468 million of Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term as client assets increased by 50% to $3.1 billion. Moreover, the company added that its acquisitions have played an important role in the recent performance.

“Not only did we maintain our positive earnings trajectory, but we also continued to invest in our organization to further diversify our business and to support ongoing growth in 2021 and beyond. We completed three acquisitions in the year, thus demonstrating how consolidating acquisitions to add products and geographic diversification within our four core services is now business as usual, which even the global pandemic could not disrupt,” Lowitt added.

Recently, Marex concluded the purchase of a leading Rotterdam-based broker Startsupply.