London Capital Group (LCG), one of the UK’s oldest CFD brands, has completed a management buyout after a three-year process marked by price disagreements and the bankruptcy of its parent company, FlowBank. Matt Basi, LCG’s managing director, revealed that he and co-director Dave Worsfold had been attempting to purchase the company since joining in late 2022.
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The buyout, executed through their holding company MBDW Holdings, ends LCG’s ownership by the estate of FlowBank, a Swiss neobank that collapsed in June 2024. This development concludes an unusual chapter for LCG, which was delisted from the London Stock Exchange in 2018 and folded into FlowBank in 2020.
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