Interactive Investor Completes Acquisition of TD Direct Investing

LONDON, June 5, 2017 /PRNewswire/ --

Interactive Investor Limited ("Interactive Investor") is pleased to announce the completion of its acquisition of TD Bank Group's European direct investing business ("TDDI"), following receipt of the necessary regulatory approvals. Accordingly, TDDI is now operating under the ownership of Interactive Investor.

The completion of the acquisition, which was first announced in October 2016, creates the UK's second largest investment platform with assets under administration (AUA) of £21 billion and more than 300,000 customer relationships.

The enlarged business will build on Interactive Investor's heritage of offering great value for money by delivering a simplified pricing structure to all customers. It is expected that all customers will be brought together on a single investing platform under the Interactive Investor name later this year. This platform will combine the strengths of each service, with some new enhancements.

TDDI customers will benefit from Interactive Investor's extensive research notes and analysis, investment filters and tools, model portfolios, rated fund and ETF lists, and newsletters, all of which are designed to aid better informed investment decisions. Meanwhile, Interactive Investor customers will have access to TDDI's wider range of international markets and account types.

Following the move to a single platform later this year, there will be further investment in market research and analysis tools and additional products to help customers make better informed investing decisions.

The Board of the enlarged company will be chaired by Hugo Van Vredenburch, with Richard Wilson as CEO and Barry Bicknell as CFO.

Richard Wilson, CEO of Interactive Investor, said: "We are delighted that our acquisition of TDDI has received regulatory approval. We are in a strong position to deliver our enhanced product offering to all our customers - old and new - providing them with value added services at industry leading rates. We know that investors want great information and fair pricing to be able to make informed decisions, and our enlarged business will offer just that. The integration of our combined capabilities will create a significant and exciting market leader, serving our customers' needs across platform, price and proposition."

About Interactive Investor: 

Founded in 1995, interactive investor (ii) is one of the UKs leading trading and investing platforms for private investors. ii offers a complete suite of services and products that investors can use to research, learn about and trade UK and international markets, including tax-efficiently through ISAs and SIPPs. interactive investor's approach is open and transparent throughout: importantly, fees are flat and based on transactions made. ii offers extensive research notes and analysis, investment filters and tools, model portfolios, rated fund and ETF lists, and newsletters, all of which are designed to aid better informed investment decisions. ii's award winning platform has seen significant growth in assets and customers over recent years based on its excellent customer service and great value pricing.

ii owns Moneywise, the UK's leading Personal Finance website and magazine, and Money Observer, the leading investment website and magazine.

On 5th June 2017, following regulatory approval from the FCA, ECB and the CSSF, Interactive Investor announced the completion of the acquisition of TDDI. TDDI has served retail investors in the UK since 1998 and globally through its International Business in Luxembourg since 2000. The combination creates the UK's second largest online broker with over 300,000 customer relationships and an AUA of £21bn. TDDI is now wholly owned and operating under the ownership of Interactive Investor. The TD logo and TD Direct Investing name are used under licence. The TD Direct Investing International business has been renamed Internaxx and will continue to operate from Luxembourg. Internaxx offers active investing and financial services to expatriates and international clients.

Board of Directors 

Hugo Van Vredenburch - Chairman 

Hugo is the former CEO of TMF Group, a position he held since 2010, following the merger of TMF Group and Equity Trust, where he was CEO. TMF is a multinational professional services firm that provides accounting, tax, HR and payroll services to businesses operating on an international scale. It operates in 80 countries and has grown rapidly both organically and through acquisition. Prior to that, Hugo held a variety of positions at Goldman Sachs over a 13 year period, including heading up the Equities Division in Japan, as COO of the Global Equities Division and co-leading the Pan-European Equities Franchise. Hugo began his career in Japan, working as an analyst and subsequently as General Manager and CIO for Tokyo Pacific Holdings. Hugo is a Non-Executive Director of TMF Group and Tempus Energy. Originally from the Netherlands, Hugo has been an investor in Interactive Investor in his personal capacity since 2012.

Richard Wilson - CEO, Interactive Investor 

Richard spent 13 years with Societe Generale CIB, and 12 years with Newedge, one of the world's leading derivatives brokers. Richard joined Newedge as CIO, rising to CEO and ultimately Chairman of Newedge UK. Under his leadership Newedge became a world leading derivatives technology platform, with global real-time execution and clearing on 90 markets worldwide. Richard's tenure at Newedge also oversaw the 18-month integration of the Fimat and Calyon technology organisations, to create the world's leading derivatives broker. Most recently Richard was Chief Administration Officer of the Co-operative Bank plc where he led banking operations and the operating model transformation.

Barry Bicknell - Chief Financial Officer 

Barry has a strong financial and risk-management background having spent 6 years at HSBC Investment Bank as Head of equity derivative product control, and 5 years at Westlb Panmure as Director of Operational Risk. He also brings expertise in delivering controlled growth in online retail financial services after four years spent as Finance Director at CMC Markets.

Media Enquiries:
Temple Bar Advisory (PR Advisor to Interactive Investor), +44(0)207-002-1482
Tom Allison, +44(0)7789-998-020
Ed Orlebar, +44(0)7738-724-630
Alycia MacAskill, +44(0)7776-253-482