Ageas N.V.

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Publicatie datum 09 nov 2005 - 08:03

Statutaire naam Ageas N.V.

Titel FORTIS TO ACQUIRE O’CONNOR & CO. Two Chicago Clearing Firms to Join Forces, Expand Market Coverage

Bericht Fortis, the global financial services provider, today announced it has signed an agreement to acquire Chicago-based O’Connor & Company, a leader in clearing services on U.S. equity, futures and options markets. Fortis will combine its existing Chicago clearing operations with O’Connor, more than tripling its size and presence in this market. O’Connor & Company President and CEO William C. Floersch will become CEO of the combined organization. It will operate under the O’Connor name until full integration of the two firms is completed, after which it will assume the Fortis name. The two firms together will employ approximately 170 people in the U.S. Fortis Clearing is part of the Merchant Banking division of Fortis Bank. It is one of the largest independent third party clearers in Europe, Asia/Pacific and the U.S. and offers clearing services for the derivatives, equities, bonds and commodities markets. In addition to Chicago, Fortis Clearing has offices in Amsterdam, Frankfurt, Hong Kong, London, Singapore and Sydney with more than 500 employees worldwide. It has General Clearing Memberships in 21 exchanges and access to other major exchanges through third party relationships. O’Connor & Company was established in Chicago in 1959 by Edmund and William O’Connor, pioneers in the derivatives industry who helped launch the Chicago Board Options Exchange. O’Connor & Company also has offices in Summit, NJ and San Francisco. Fortis started its U.S. operations in 2001 with Fortis Clearing Chicago to provide clearing services on the U.S. futures exchanges to Fortis’s global clients as well as to Chicago-based clients. “We expect O’Connor & Company’s outstanding people, client relationships and market knowledge will add significantly to our Chicago operations,” said Frans Demmenie, CEO of Fortis Securities & Fund Solutions, part of Fortis Merchant Banking. “For Fortis, this acquisition is a key part of our global growth strategy, and an important expansion of ou

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Datum laatste update: 22 december 2025