TradeInformer has learned that UAE family office MBS Global Investments has received the green light from the FCA to acquire a majority shareholder position in advisory firm and brokerage group Enigma Strategy.
Launched in 2020, the firm combines investment portfolio access and advisory services with a traditional brokerage operation, delivering execution and ongoing client support.
The terms of the deal have not been disclosed but TradeInformer understands the deal puts a seven figure valuation on Enigma. Executives at Enigma declined to comment on the figure.
The transaction marks a strategic shift for Enigma, repositioning its business toward multi-asset trading with a particular focus on expanding its offering for high-net-worth clients.
Founders James Lawrence and Roderic Owen-Thomas will remain at the company and have also retained minority shareholder positions in the company.
“The investment into Enigma has enabled us to reposition our strategy with renewed focus,” Lawrence told TradeInformer. “We are now fully committed to becoming a serious and productive force in multi-asset investment management, with particular emphasis on Shariah-compliant solutions and ethically driven products that align with modern investor values.”
UK brokers – down, not out
MBS is the second player from the UAE to have moved into the UK broker market over the last 12 months.
The UK entity of Dutch broker BUX was sold to UAE broker APM Capital last year. That entity is now live, with sales exec Michael Going recently joining the broker’s London office too.
Aside from this, we’ve also seen oil market maker Onyx Capital enter the retail space with a new brand called Onyx Markets. That launched at the start of this year.
German-listed broker NAGA also recently announced that it has acquired the FCA license of Trade.com.
