Overview
Schulte Roth & Zabel advised financial services firm Velocity Clearing (“Velocity”), and its investors, in an acquisition of a 75% stake by Hanwha Life (“Hanwha”), a leading Korean life insurance company. This strategic acquisition secures Hanwha’s presence in the US financial sector and supports Velocity’s ongoing growth in the Asian market.
Velocity Clearing is a technology-driven, self-clearing broker/dealer providing execution services, clearing and custody along with access to stock locate services, securities lending and competitive financing. They support institutional clients including brokers/dealers, hedge funds, family offices, and prop shops worldwide.
Schulte’s M&A team was led by partner Damian Petrovic, with special counsel Lauren Troeller and associate Joe D’Arco. The team also included lawyers in the Broker-Dealer Regulatory & Enforcement, Tax, Employment, Environmental, Intellectual Property and Antitrust practice areas with Julian Rainero, William Barbera, Joseph Reich, Jake Gach, Ian Levin, Adam Gartner, Ted Keyes, Alex Kim, and Ngoc Pham Hulbig.