StoneX to acquire Benchmark for capital market expansion

NEW YORK - StoneX Group Inc. (NASDAQ: SNEX), a Fortune 100 global financial services firm with a market capitalization of $3.46 billion, has entered into an agreement to acquire The Benchmark Company, LLC, a move aimed at bolstering its equity and debt capital markets services. According to InvestingPro data, StoneX has demonstrated robust performance with a 57% return over the past year, though the stock has recently experienced an 8.7% decline in the past week. The transaction, pending regulatory approval and customary closing conditions, is set to enhance StoneX’s equity research and investment banking capabilities.

The Benchmark Company, a full-service investment banking firm with over 35 years of experience, is recognized for its award-winning equity research and comprehensive sales and trading platform. The firm operates nationwide from its headquarters in New York City.

Jacob Rappaport, Global Head of Equities at StoneX, noted the acquisition as a significant step in establishing a franchise-level equity research and investment banking platform, which he anticipates will elevate the company’s equities capabilities. Rappaport emphasized the expected benefits of deep market insights, superior execution, and comprehensive solutions for institutional and commercial clients in global capital markets.

Richard Messina, the Founder and CEO of Benchmark, will retain his leadership role within StoneX following the acquisition. Messina expressed enthusiasm for the integration, highlighting the potential to enhance Benchmark’s platform and drive value for clients, while contributing to StoneX’s growth trajectory.

Anthony Di Ciollo, Global Head of Fixed Income at StoneX, also commented on the acquisition’s impact on the company’s debt capital markets offering. He pointed to the strategic partnership’s ability to leverage StoneX’s global fixed income distribution network and enhance client value worldwide.

StoneX serves a diverse client base, including commercial, institutional, and payments clients, as well as retail accounts, through a network of more than 70 offices across six continents. The company offers a range of financial services, including digital platforms, clearing and execution services, and expert guidance, designed to help clients manage market risks and improve business performance. With trailing twelve-month revenue of $107 billion and a P/E ratio of 12.19, StoneX maintains a strong financial position, earning a "GOOD" overall financial health rating from InvestingPro, which offers comprehensive analysis and 8 additional key insights about the company’s performance and outlook.

The acquisition is expected to close following the satisfaction of regulatory requirements and other customary conditions. This strategic move signals StoneX’s commitment to expanding its service offerings and strengthening its position in global capital markets. For detailed analysis of StoneX’s growth strategy and market position, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro, which provides in-depth insights into the company’s valuation, financial health, and growth prospects.

The information reported is based on a press release statement from StoneX Group Inc.

In other recent news, StoneX Group Inc. reported first-quarter earnings that surpassed analyst expectations, with adjusted earnings per share at $2.54, exceeding the projected $1.94. However, the company’s revenue of $492.1 million fell short of the anticipated $849.2 million. Net income increased by 23% year-over-year to $85.1 million, and diluted earnings per share rose 19% to $2.54. Additionally, StoneX announced a three-for-two stock split, set to occur as a stock dividend on March 21, 2025. In other developments, the company held its annual shareholder meeting, where eight directors were elected, and KPMG LLP was ratified as the independent registered public accounting firm for the fiscal year 2025. Shareholders also approved an amendment to the 2022 Omnibus Incentive Compensation Plan, increasing shares authorized for issuance. Furthermore, StoneX disclosed new compensatory arrangements for executives, including an employment agreement with Charles Lyon, the Group President, detailing salary and bonus structures. An amendment to Sean O’Connor’s agreement was also noted, removing his entitlement to the annual bonus and participation in the long-term incentive plan.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.