Eden Financial, the UK-based firm providing services including private wealth management, has sold its global markets division to the commodity trading specialist Marex Spectron Group for an undisclosed sum.

The transaction is expected to be complete on or soon after 29 July, according to a statement issued by the companies today. As a result of the deal, Eden “will concentrate its activities on its expanding private client and asset management division”.

Marex Spectron operates in the field of exchange-traded metals, energy and agricultural products and over-the-counter energy markets.

“The acquisition of Eden's global markets division adds greater depth to Marex Spectron's financial products, complementing its financial futures and foreign exchange businesses. In particular, the global markets division adds non-derivative products, including European cash equities and fixed income to Marex Spectron's capabilities, providing clients with unrivalled access to an expanded offer across a wide range of asset classes,” it said.

Following completion of the acquisition, David Bearman, chief executive of Eden, and Bruce Froud, managing director and head of global markets, will join Marex Spectron together with the global markets team of 40 people.