Degussa acquires London bullion broker Sharps Pixley Ltd

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November 19, 2013 – Degussa Goldhandel (Gold Trade) Group acquired Sharps Pixley Ltd, one of the leading bullion trading businesses based in London. The acquisition of Sharps Pixley Ltd underscores Degussa’s future ambitions to play a major role in international gold trade.

‘With a total of nine locations in Germany, plus one in Switzerland and now one in London, the foundations are now laid for international growth of Degussa Group’, announced Degussa CEO Wolfgang Wrzesniok-Rossbach and Sharps Pixley CEO Ross Norman in a joint statement. ‘London remains the global centre for gold trading at the interbank level, yet it remains remarkably difficult for investors to source the physical metal. Our ambition is to increase both the visibility and access to this important asset class’, they added.

Sharps Pixley Ltd with origins back to 1778 is one of the world’s most traditional brands in international precious metals trading. Since its foundation the company has played a central role in the London gold market and was one of the five gold trading companies which determined the London gold fixing price twice a day.

Through its website Sharps Pixley is today a leading online bullion information provider, giving free access to arguably the largest and fastest sources of precious metals news, research and analysis. Within the next couple of months customers will have the opportunity to purchase physical gold online as well as a location where investors can buy and sell gold directly from Company premises in London.

In the precious metals markets, quality, reputation and reliability remain key factors for success. Therefore, Degussa is pleased with the decision to keep the experienced and highly skilled team under the leadership of Sharps Pixley CEO Ross Norman.

Speaking of the acquisition, Ross Norman CEO at Sharps Pixley added ‘we are delighted to be joining the Degussa Group as this brings together their proven track record in successfully opening up the German bullion market to what we see as a great opportunity here in London.’

One of the first measures of the business will be the minting and casting of new gold and silver bars bearing the Sharps Pixley logo, which will arouse interest in the London market. ‘It is a moving moment to see the logo of one of the world’s most authentic brands in precious metals once again’, said Norman and Wrzesniok-Rossbach in their joint statement.

This is the website of Sharps Pixley.

And here you can find more information on Degussa Goldhandel.