Mike Hampson, CEO of Bishopsgate, and I had known each other for a number of years but we hadn’t done any business together. Mike contacted me towards the end of 2020 and talked about wanting to merge with another firm to enable him to both take a wider set of services to Bishopsgate’s global banking clients and enable Bishopsgate’s expertise to reach a larger range of clients. An important part of any tie up would also be for Mike to join with an existing executive team to drive the combined business forward.
We approached a selected group of organisations in January and soon found ourselves in a number of interesting conversations. Bishopsgate, and Mike as its leader, are well known in the market and so discussions quickly moved to exploring the benefits of the various options that we had.
In CubeMatch, Mike saw that he could achieve his objectives. Headquartered in Ireland, and with offices elsewhere, CubeMatch was keen to expand its London operation. Bishopsgate’s range of services and a client base that added to its existing portfolio was of great interest. The business case for both was clear – all we had to do then was the paperwork!
The combined business has a team of over 250 professionals supporting financial services clients globally and, with revenues of c. £25m and good profitability, it has a strong platform to build on. There will be much more to see from this business as it continues on its growth path.
See here for Bishopsgate’s press release.