Pepperstone

Last updated

Pepperstone Group Limited
Company type Private
Industry Financial services
Founded2010 (2010)
FounderOwen Kerr
Joe Davenport
Headquarters,
Key people
  • Tamas Szabo (CEO)
  • Robert Bowen (COO)
ServicesFinancial Markets Access Forex Brokerage, MetaTrader 4, Contract For Difference(CFDs), cTrader
RevenueIncrease2.svg US$17.92 billion (FY 2024)
Increase2.svgUS$23.97 billion (FY 2024)
Increase2.svgUS$12.76 billion (FY 2024)
Total assets Increase2.svgUS$22.73 billion (FY 2024)
Total equity Increase2.svgUS$4.7 billion (FY 2024)
Number of employees
2,900 (FY 2024)
Website pepperstone.com

Pepperstone is an Australian online trading platform based in Melbourne. [1] It was founded in 2010 by Owen Kerr and Joe Davenport. [2] [3]

Contents

Pepperstone has offices in Melbourne, London, Düsseldorf, Dubai, Limassol, Nassau and Nairobi.

History

Pepperstone was founded in 2010 by Owen Kerr and Joe Davenport. [4] [5]

In 2013, Pepperstone helped the Australian Securities and Investments Commission and Australian Federal Police uncover Australia's largest insider trading case in history. [6] Another media report claimed that a senior employee was sacked after tipping off the regulator. [7]

In 2014, the firm was ranked #1 on BRW Fast Starters, with reported revenues of $60m and 66% growth. [8]

In October 2014, Pepperstone ceased accepting Japanese clients after an inquiry by ASIC regarding the lack of a license from the Japanese Financial Services Agency. [9]

In March 2016 Pepperstone announced it had finalized the sale of most of its business to Champ Private Equity. [10]

In February 2017, to comply with its FCA obligations, the firm temporarily closed down their UK operations. [11]

CHAMP Private Equity sold its stake in Pepperstone 2.5 years after investing in the online investment platform. The business was bought by its senior management team led by chief executive Tamas Szabo and CHAMP managing director Fiona Lock. [12]

The Association of Tennis Professionals (ATP) agreed a global sponsorship with Pepperstone in May 2022, a deal that included the naming rights to the official ATP rankings. [13] This deal would last until February 2024, when Pepperstone's naming rights to the rankings was replaced by Saudi Arabia's Public Investment Fund. [14]

Regulation and protection

The company is authorized and regulated by financial authorities, including the Australian Securities and Investments Commission (ASIC), the FCA in the United Kingdom, CySEC Cyprus, DFSA Dubai, CMA Kenya, SCB Bahamas and BaFin Germany. [15]

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References

  1. Courtenay, Adam (26 January 2014). "Is Pepperstone headed for an IPO?". The Sydney Morning Herald.
  2. "Pepperstone founders may be worth $300m each with listing". Australian Financial Review. 26 November 2013.
  3. https://www.theaustralian.com.au/business/business-spectator/news-story/pepperstones-unlikely-millionaire/64651a49bd53caeb5165a48b3ca7dae3
  4. "Pepperstone rich list co-founder Owen Kerr shares $24m dividend". Australian Financial Review. 14 October 2015.
  5. Pash, Chris (21 November 2014). "The Pepperstone Guys Have Been Named Entrepreneurs Of The Year In Australia". Business Insider Australia. Archived from the original on 22 November 2014. Retrieved 2 March 2020.
  6. Durkin, Patrick (11 May 2014). "Alleged insider trading case cracked through LinkedIn". The Sydney Morning Herald. Retrieved 16 December 2014.
  7. Jefferson, Andrew (26 August 2014). "Employer won't back down over insider trading sacking". Herald Sun.
  8. "Fast Starters 2014". BRW. Retrieved 17 December 2014.
  9. "14-267MR ASIC concerns see Pepperstone exit the Japanese market". ASIC. 13 October 2014. Retrieved 13 June 2015.
  10. "Pepperstone finalises deal with Champ". The Australian. 3 March 2016. Retrieved 10 May 2017.
  11. "Pepperstone suspends Forex trading in the UK – LeapRate Exclusive". LeapRate. 28 February 2017. Retrieved 10 May 2017.
  12. "CHAMP to exit Pepperstone; new role for managing director Fiona Lock". Australian Financial Review. 8 September 2018. Retrieved 29 February 2020.
  13. Carp, Sam (6 May 2022). "ATP ranking naming rights included in Pepperstone's global sponsorship deal". SportsPro. Retrieved 31 December 2022.
  14. "ATP & PIF announce multi-year strategic partnership to accelerate the growth of global tennis". ATP Tour. 28 February 2024. Retrieved 6 March 2024.
  15. "BaFin License". Finance Magnates. 13 August 2020. Retrieved 13 August 2020.