London Capital Group has completed a management buyout with Managing Director Matt Basi and Chief Executive Dave Worsfold acquiring full ownership from Charles Sabet. The ownership transfer through MBDW Holdings was officially registered Wednesday with the UK Companies House, though financial terms were not disclosed.
The FCA-regulated broker operates as an introducing broker for IG Group following its 2023 business model pivot. LCG’s UK entity maintained operational independence through FlowBank’s collapse last year, enabling regulators to quickly lift restrictions that had temporarily halted new client onboarding and fund acceptance. The firm’s Bahamas-regulated entity ceased operations due to direct FlowBank ties.
Sabet originally acquired LCG in 2018 after its parent’s LSE delisting and subsequently restructured ownership when launching FlowBank in 2020. The management buyout marks LCG’s third major ownership change in six years, reflecting ongoing efforts to stabilize the business following parent company turbulence.
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The management buyout signals LCG’s commitment to operational continuity under existing leadership, likely reassuring clients and IG Group about business stability following FlowBank disruptions.
Source: Finance Magnates