AFEX Acquires GFX Partners

Published 

Most recent acquisition in Toronto further bolsters AFEX’s payment and foreign exchange offering in North America

Woodland Hills, Calif. — AFEX, one of the world’s largest non-bank providers of global payment and risk management solutions, today announced the acquisition of GFX Partners, a payment and foreign exchange company headquartered in Toronto, Canada.

This strategic acquisition will strengthen AFEX’s position in the Canadian and North American markets and follows the acquisition, earlier this year, of the payments and FX business of Jameson Bank, also headquartered in Toronto. GFX’s existing client base will be integrated within AFEX’s extensive network, which has a strong presence in the United States, United Kingdom, Europe, Middle East, Asia and Australia.

Canada is a key strategic market for AFEX, boasting a developed import and export economy. GFX served over 700 foreign exchange and international payments clients and the acquisition will see AFEX continue to work with those companies, offering small to medium sized businesses the attention normally reserved for large multinational companies.

Christian Spaltenstein, General Manager of the Americas for AFEX, will oversee the new offices.

“Following on the heels of the seamless acquisition of Jameson Bank’s FX business, we’re confident that GFX’s clients will benefit from AFEX’s high-touch service model,” said Spaltenstein. “Given the number of Canadian businesses that rely on import and export, managing payment and FX risk is a key concern. We look forward to working with a growing number of Canadian businesses as they address their global payment, treasury and risk management needs.”

“Joining with AFEX will give our clients access to a network of international payment and risk management solutions, vital for Canadian companies conducting business on a global scale,” said Michael J. Smith, President, GFX. “We’re excited about these new opportunities and look forward to continuing to support our clients.”

Most recent episodes

£15 Billion Stimulus Pumped into UK Economy to Ward Off Recession Fears

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 7th June...

04:44

Advantage Treasury

Eleanor Hill is joined in the virtual TreasuryCast studio by Nicolas Cailly and Philippe Penichou (Societe Generale) to look at treasury trend predictions for the remainder of 2022, with a particular focus on virtual accounts. In this deep dive into current and future treasury priorities, our guests...

24:22

40th Annual New York Cash Exchange: What Can Treasurers Expect?

Ahead of the 40th annual New York Cash Exchange, two of TMANY's distinguished board members, David Miller and Timothy T. Hesler, CTP, provide TMI CEO, Robin Page, with a quickfire rundown of what attendees can expect from this year’s conference. Our guests share their aspirations for the event, explain...

09:58

Expectation-Beating Inflation Prints Ratchet Up Pressure on Monetary Policy

Welcome to the third edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 9th May...

04:48

Making the Sustainable Transition: A Roadmap to ESG in Treasury

Over the last 18 months, Societe Generale has experienced a steady increase in requests from their corporate clients to integrate ESG features in treasury management.  Louis-David Rouyer, Philippe Pougeard, and Emmanuelle Petelle (Societe Generale) provide TMI's Eleanor Hill with a whistlestop run...

22:24

Lift Off for Fed Rate Rises

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 5th of...

04:58

Treasury in 2022 and Beyond

Industry experts Bob Stark (Kyriba) and Sebastian di Paola (PwC) join TMI's Editor, Eleanor Hill, to explore the very latest treasury trends - and to discuss how smart treasurers can get ahead of th...

43:21

How BearingPoint Harnessed Data-Driven Forecasting with CashAnalytics and SAP

Listen back to our recent forecasting masterclass, where Group Treasurer Eveline Stam, and Conor Deegan (CashAnalytics) provided TMI's Eleanor Hill with a comprehensive overview of how consultancy firm BearingPoint achieved company-wide cash forecasting nirvana by combining specialist solutions from...

37:14

The 3 T’s of The Future: Tech, Treasury, and Transformation

Over the past two years, an increasingly dynamic environment has not only accelerated technology development – from quantum computing to blockchain technology, and even the metaverse – but also technology adoption, bridging colleagues and breaking down silos in a remote work world. In this podcast,...

44:02

Monetary Policy Continues to Drive Markets as Ukraine Invasion Weighs on March Meetings

Welcome to the second edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 3rd of...

05:25