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Chicago-based R.J. O’Brien & Associates (RJO), the oldest and largest independent futures brokerage and clearing firm in the United States, today announced that the company has established a new affiliate, R.J. O’Brien France S.A.S., that will open an office in Paris as soon as the end of March, pending regulatory approval. The initiative gives RJO its first foothold in mainland Europe and furthers its strategic global growth initiative, aimed at building on the company’s core offerings.
Privately held RJO and its affiliates (the RJO Group), which have been steadily building on their presence globally, achieved record revenues and profits for 2018, according to RJO Chairman and Chief Executive Officer Gerald Corcoran. Last year, RJO Group opened its first office in Dubai and moved into new, larger office space in London following its 2015 acquisition of The Kyte Group. In addition to offices in Chicago, New York, London, Paris and Dubai, RJO Group has grown its presence in Asia, with locations in Hong Kong, Beijing and Seoul.
Corcoran said: “We’ve long had a plan to establish a presence in continental Europe that complements our UK offering, which is truly formidable following our work over the past five years. The office gives us another great opportunity to attract brokers and clients throughout the continent. Our record performance in 2018 reinforces that we are on the right trajectory – taking full advantage of our company strengths and scale. The next couple of years will be exciting, as we expect to continue on the path of acquisition and innovation to ensure we give clients breadth of products and creative new approaches to solving their challenges and managing their risk.”
RJO Senior Managing Director and Chief Strategy Officer Steve Brodsky said: “I joined RJO last year to help the firm grow even further strategically, finding new ways to leverage our strengths, partner with other organizations and explore additional acquisition opportunities. Many FCMs and industry players are facing daunting challenges, and we have scale, commitment and an unparalleled track record in client service – making us an extremely attractive partner for the right entities.”
Building on the firm’s agricultural roots, RJO’s recent organic growth initiatives include “agri-tech” solutions, such as the launch of an over-the-counter (OTC) Agricultural Structured Products Group designed for commercial agricultural firms of all sizes across the globe. The bilateral OTC initiative utilizes a first-of-its kind proprietary software platform developed by the team’s financial engineers to analyze client needs and then generate and quote a wide range of customized hedging strategies. Also recently introduced was RJO’s Autohedge, a proprietary hedge management tool, developed in consultation with grain industry leaders. As a fully customizable technology solution, Autohedge helps to reduce risk and increase productivity for those involved in agricultural hedging activities.
Corcoran said the new Paris office will open with a team of experienced institutional brokers in addition to management and support staff, with the intention of adding more brokers who have the right mix of experience, expertise and passion consistent with the company culture.
