PETERBOROUGH, N.H. — One unique winner in the purchase of noted independent card portfolio brokerage Asset Exchange by Fidelity National Information Services is Brookwood Capital, the other independent portfolio brokerage that has served the credit union space.
“From our perspective the news about the Asset Exchange sale will just help to further distinguish us in the market,” explained Tim Kolk, managing partner with the firm. Kolk noted that while Brookwood will not be the only independent broker of CU card portfolios, it will be the only one whose card brokerage services are core to its business plan. “There are some other independent firms who might act as a broker for a CU client's card portfolio occasionally, but that is not one of their primary lines of business. It is ours,” he added.
The purchase of the brokerage by a card processor, one of its long time industry competitors, promises to significantly change the market by appearing to diminish the outlets credit unions can use to have their card portfolios independently evaluated and brokered.
Asset Exchange executives have not yet commented on how firm sees the sale affecting its business model, but a spokesman said that the purchase has been structured in such a way as to preserve its independence.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
