The Combination Adds to the Offerings of the Two Pioneers and Leading Providers of Trade Analytics Services to the Institutional Community
NEW YORK, April 5, 2018 /PRNewswire/ -- Abel Noser Holdings, LLC announced today that it is acquiring Zeno Consulting Group, LLC in a transaction pairing two leading providers of best execution analysis, regulatory and trade surveillance services. Zeno brings with it over three decades of experience in helping asset owners manage and control equity, fixed income and FX trading costs.
"We are thrilled to have the Zeno team join our efforts to provide the most comprehensive suite of products available for asset owners," commented Ted Morgan, CEO of Abel Noser Holdings. "This joining of talent not only brings leading-edge expertise to our firm but will further expand on our ability to offer trade analytics and regulatory reporting to all corners of the market."
With offices in Metro DC and Los Angeles, Zeno specializes in consultative offerings for plan sponsors and asset owners. "We're delighted with the opportunities presented by fusing our collective consultative approaches with Abel Noser's superior resources, technology and support," said Zeno's President and CEO Steven Glass. Mr. Glass will join the Abel Noser Board of Directors and lead Zeno AN Consulting, the newly formed asset owner consulting group comprised of both firms' asset owner clientele. "The new internal structure will enable us to better service existing clients as well as offer our unique expertise to Abel Noser's client base; all while preserving our traditional conflict-free approach," said Mr. Glass, who will report to Peter Weiler, President of Abel Noser Solutions, the company's trade analytics subsidiary. All Zeno employees will be joining the combined companies.
Zeno will also augment Abel Noser's knowledge leadership in regulatory oversight and best execution review critical to MiFID II and PRIIPs compliance for the asset owner community, a timely component now that the 2018 European regulatory mandates are live. Moreover, the combination will create the largest universe of its kind with unparalleled peer group comparisons while leveraging Abel Noser's leading technology platform with enhanced processing and reporting customization for existing Zeno clients.
"Our consolidated energies will make us well-positioned to offer deeper client consultative analysis, a broader scope of products and an enhanced geographic footprint," Mr. Weiler adds. "We are pleased to join with Zeno who, like Abel Noser, has focused over many years on reducing the cost of trading for the owners of investment assets."
The transaction is expected to close on or around May 31st, 2018.
About Abel Noser Holdings, LLC
Abel Noser has long been respected as a leader in the campaign to lower the costs associated with trading. Abel Noser Solutions, the company's analytics subsidiary, is the industry-leading provider of transaction cost analysis with over 500 global clients subscribing to its TCA and compliance products through a network of resellers, distribution partners and strategic alliances. Abel Noser LLC, the company's registered broker dealer and a member of FINRA and SIPC, provides a wide range of trading, transition management, and analytics services to institutional asset owners, investment managers and brokers. Learn more at www.abelnoser.com.
About Zeno Consulting Group, LLC
Zeno Consulting Group is a securities consulting firm that specializes in assisting plan sponsors/pension funds and other asset owners to proactively monitor and manage their asset managers' trading processes. Established in 1986 as Plexus Group, Zeno is a Registered Investment Advisor (RIA) with a well-earned reputation as a thought-leader in trade cost analysis and compliance oversight. Learn more at www.zenocg.com.
Abel Noser Holdings
SOURCE Abel Noser