LONDON â€" Cantor Fitzgerald agreed on Monday to acquire the Irish firm Dolmen Stockbrokers as part of its expansion into global markets.
The deal for Dolmen, one of Ireland's largest stockbrokers, comes as the economy of the European country continues to rebound from the financial crisis when Ireland's financial services industry had to be bailed out by local politicians.
Ireland's gross domestic product, however, is expected to rise 0.4 percent this year, compared to a 0.3 percent decline for the entire European Union.
Under the terms of the deal, Cantor Fitzgerald said it would offer Irish customers access to a number of financial instruments, including capital markets trading and wealth management products.
“Building a full-service sales and trading, research and advisory business in Ireland is an important step in our continued expansion,†Cantor Fitzgerald's chief executive, Shawn P. Matthews, said in a statement. A purchase price was not disclosed.
Ronan Reid, the current head of Dolmen, will continue to serve as chief executive of the newly-acquired business that will be renamed Cantor Fitzgerald Ireland, according to a company statement.
