Tradition takes 10% stake in IFX Group

The deal, which was completed on February 6, reflects the firm’s overall interest in electronic intermediation and transaction businesses, said Patrick Combes, chairman of Compagnie Financière Tradition.

Terms of the transaction were not disclosed but the shares were bought from former chief executive and founder of IFX Graham Wellesley confirmed Robin Houldsworth, managing director of Europe at Tradition in London. He declined to comment on the value of the stake, but a source close to IFX