Article details
Matt Basi and Dave Worsfold, directors at London Capital Group (LCG), have officially completed a management buyout of the UK broker through their holding entity MBDW Holdings. The transaction marks the end of a complex three-year process to acquire the business from the liquidators of FlowBank, the Swiss neobank that collapsed in June 2024 following regulatory action by FINMA. LCG has historically been one of the oldest retail CFD broker brands in the United Kingdom.
Prior to the buyout, the new owners shifted LCG away from operating its own dealing desk and holding client funds, transitioning the firm into a lean introducing broker model. Initial buyout attempts stalled in 2023 due to a valuation mismatch between management and FlowBank. The bankruptcy of FlowBank eventually triggered a court-supervised bidding process in Switzerland, allowing MBDW Holdings to secure full ownership of the FCA-regulated entity.
The completion of this buyout clears corporate uncertainty for LCG as it attempts to achieve sustainable profitability under its restructured operating model. Market observers will be evaluating whether the streamlined introducing broker structure provides a viable blueprint for smaller UK financial entities navigating strict regulatory environments and rising compliance costs.
