Sydney-headquartered Invast Global has undergone a massive rebranding and rebranding as 26 Degrees, the company officially announced today (Friday). The rebranded company will focus on the prime brokerage market.
The new name, 26 degrees, was creatively chosen to refer to the 26 degree latitude that runs parallel across the widest width of Australia, dividing it from north to south.
Gavin White, CEO of 26 Degrees (formerly Invast Global)
In an interview with finance tycoons26 Degrees CEO Gavin White said the rebranding had been forced on the company with the exponential growth of its institutional prime services business over the past five years.
“The global prime brokerage market is changing,” said White. “It highlighted the strong position of independent brokers such as 26 Degrees to step up and support these underserved market segments.”
A strategic redesign of the brand
The rebranding came as a strategic decision for the company. White pointed to the opportunities in the market when Credit Swiss collapsed and other giants like Jeffries also left.
The prime service market is estimated at around US$20 billion. The growth opportunities in this market are immense, with global investment banking giants accounting for 92.5%, valued at around US$18.5 billion.
According to 26 Degrees, estimated revenue from clients with assets under management of less than $100 million is $3.2 billion, or 15.8% of the industry, and the firm will target this particular market.
“Banks were driven out after the global financial crisis due to regulatory reforms,” White told Finance Magnates. “It has pushed banks out of a very lucrative industry which is prime services serving brokers.”
“With this, many brokers find it difficult to obtain the services of a prime broker. The hedge fund industry was also in the same position. Prime brokers are withdrawing due to regulatory forms. So we have integrated a company to enjoy.”
26 Degrees is owned by a Japanese parent company with a strong brokerage presence. The new company also plans to leverage the reputation of its Japanese parent company in the market to win customers.
A multicultural organization
Formerly known as Invast Global, 26 Degrees is a global brand with a physical presence in many countries.
Explaining the multicultural work environment, White said: “Australia is a very multicultural corporate country. There is nothing that defines Australians, and it makes it easier for us to interact with different cultures. We We have an office in Cyprus. Differences there. The same thing happens in London.
“However, Japan is a bit different because it’s a different culture, but we were able to handle that.”
He further added: “We now have two staff from our Cyprus office in the Australian office for the next month. We also have people going to Japan and London. This is one of the things that our staff really love about our company.”
The workforce of 26 Degrees is also very young. White revealed that 60% of the company’s staff are under the age of 30.
“It really is a millennium,” he said. “We’ve gone with a really cool group of ten seniors on top and interns on the bottom over the last ten years. Now some of those interns are C-level. So the whole company is steeped in that kind of millennial attitude.”
Sydney-headquartered Invast Global has undergone a massive rebranding and rebranding as 26 Degrees, the company officially announced today (Friday). The rebranded company will focus on the prime brokerage market.
The new name, 26 degrees, was creatively chosen to refer to the 26 degree latitude that runs parallel across the widest width of Australia, dividing it from north to south.
Gavin White, CEO of 26 Degrees (formerly Invast Global)
In an interview with finance tycoons26 Degrees CEO Gavin White said the rebranding had been forced on the company with the exponential growth of its institutional prime services business over the past five years.
“The global prime brokerage market is changing,” said White. “It highlighted the strong position of independent brokers such as 26 Degrees to step up and support these underserved market segments.”
A strategic redesign of the brand
The rebranding came as a strategic decision for the company. White pointed to the opportunities in the market when Credit Swiss collapsed and other giants like Jeffries also left.
The prime service market is estimated at around US$20 billion. The growth opportunities in this market are immense, with global investment banking giants accounting for 92.5%, valued at around US$18.5 billion.
According to 26 Degrees, estimated revenue from clients with assets under management of less than $100 million is $3.2 billion, or 15.8% of the industry, and the firm will target this particular market.
“Banks were driven out after the global financial crisis due to regulatory reforms,” White told Finance Magnates. “It has pushed banks out of a very lucrative industry which is prime services serving brokers.”
“With this, many brokers find it difficult to obtain the services of a prime broker. The hedge fund industry was also in the same position. Prime brokers are withdrawing due to regulatory forms. So we have integrated a company to enjoy.”
26 Degrees is owned by a Japanese parent company with a strong brokerage presence. The new company also plans to leverage the reputation of its Japanese parent company in the market to win customers.
A multicultural organization
Formerly known as Invast Global, 26 Degrees is a global brand with a physical presence in many countries.
Explaining the multicultural work environment, White said: “Australia is a very multicultural corporate country. There is nothing that defines Australians, and it makes it easier for us to interact with different cultures. We We have an office in Cyprus. Differences there. The same thing happens in London.
“However, Japan is a bit different because it’s a different culture, but we were able to handle that.”
He further added: “We now have two staff from our Cyprus office in the Australian office for the next month. We also have people going to Japan and London. This is one of the things that our staff really love about our company.”
The workforce of 26 Degrees is also very young. White revealed that 60% of the company’s staff are under the age of 30.
“It really is a millennium,” he said. “We’ve gone with a really cool group of ten seniors on top and interns on the bottom over the last ten years. Now some of those interns are C-level. So the whole company is steeped in that kind of millennial attitude.”
