JB Financial’s Group CEO, Stuart McAuliffe, said, “This acquisition is truly transformative and places JB Financial in a market leading position in foreign exchange. Retail shop fronts are critical networks and this is illustrated in the current bidding war for Moneygram by Euronet and Ant Financial. Additionally, real scale needs to be accompanied by wholesale market share and online presence. This acquisition provides scale and a tremendous team of people trained by American Express and possessing many years of experience. The acquisition also provides JB Financial with a platform for global expansion and the team to achieve it.
This announcement seems to be the most important. Time will tell whether we have bitten off more than we can chew or whether the acquisitions can occur seamlessly and with out too much disruption.
