Marex Group plc announced the launch of a structured products business in the United States, targeting registered investment advisors, broker‑dealers and private banks that seek issuer and credit diversification. The new U.S. operation is led by Scott Kerbel, Head of U.S. Distribution for Marex Financial Products, and will provide a broad range of structured investment solutions built on the firm’s global structuring expertise.
The U.S. structured products market is expected to reach $220 billion in 2025, a figure that underscores the size of the opportunity. By positioning itself as a non‑bank issuer, Marex offers a different credit risk profile than the dominant bank issuers, giving advisors and their clients a means to spread credit exposure and potentially accelerate product turnaround. This differentiation is a key competitive advantage in a market where concentration of credit risk has been a growing concern.
Marex’s leadership in structured products is deep. The firm has issued more than 20,000 structured products worldwide and launched a structured notes business in 2018 that serves private banks and asset managers. Scott Kerbel brings extensive experience from HSBC, Credit Suisse and Wells Fargo, and he said the firm’s global experience and responsiveness will help advisors access solutions that meet their clients’ objectives. Joost Burgerhout, Head of Financial Products, noted that “there has not been a new issuer in the U.S. market for several years, and end users are finding that among existing issuers, their concentration of credit risk is increasing.”
The launch complements Marex’s core clearing, agency, execution and market‑making services, broadening its client base and revenue mix. By leveraging its existing operating infrastructure, the firm can scale the new business efficiently while reinforcing its diversified platform. Ram Vittal, CEO of Americas, emphasized that the expansion “provides investors with credit diversification and expands our product capabilities in the region while leveraging our existing operating infrastructure.”
While the launch is a positive development, it occurs against a backdrop of recent legal challenges, including lawsuits alleging securities law violations. Those matters are unrelated to the structured products business but are part of the broader context in which Marex is operating. The firm’s Q3 2025 earnings beat expectations, underscoring its strong financial position and providing a solid foundation for the new venture.
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