McDermott Will & Schulte, a global law firm

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.

Read the full article: “South Korea’s Hanwha Life to acquire majority stake in U.S.-based Velocity Clearing, allowing both companies to target global markets.”