Milestone transaction will mark the first time a Korean insurance company has acquired a controlling interest in a foreign brokerage firm
SEOUL, South Korea and NEW YORK, Nov. 20, 2024 /PRNewswire/ -- Hanwha Life, South Korea's first life insurance company, today announced it has agreed on the 18th to acquire a 75% stake in the parent of Velocity Clearing, a U.S.-based global financial services firm. The Velocity Clearing management team will retain the remaining minority stake. With this acquisition, Hanwha Life will secure a foothold in the U.S. financial sector, expanding access to excellent opportunities to maximize the return on investment.
A leading Korean life insurance company, Hanwha Life has been at the forefront of developing both the insurance industry and South Korea's economic growth for 78 years. As part of that growth, the financial group has expanded into several overseas markets, including Vietnam and Indonesia, with its latest market being the U.S.
"As we look to expand into the U.S. market, we wanted to partner with a firm that has a strong footprint in financial services — and that is Velocity Clearing," said Seung Joo Yeo, Hanwha Life CEO. "Establishing opportunities for diversified growth that transcend borders and industries in the U.S. market is of immense significance to us. With Velocity Clearing's robust platform and expertise, this acquisition will serve as a springboard for enhancing the global capabilities of South Korea's leading insurance company. Together with the Velocity Clearing management team, we are well positioned to make a strong impact in the U.S. and lay the foundation for sustainable, long-term growth."
Velocity Clearing, which offers a unique combination of people, processes and technology that allows clients to trade, borrow and invest with confidence, will join Hanwha Life following a record year of growth. Since 2023, Velocity Clearing grew its assets under custody by 300%, more than doubled its correspondent clearing business, increased its U.S. and offshore technology staff by 50% and expanded into Latin American and Asian markets. The acquisition of Velocity Clearing by Hanwha Life will allow the New York brokerage and global financial technologies company to continue its expansion into the Asian market.
"For Velocity Clearing, forming this partnership was made from a position of strength that speaks to the broad marketplace appeal of our offerings," said Michael Logan, CEO of Velocity Clearing. "Velocity Clearing is seeing record growth across multiple success metrics and clients are embracing our offering of a full suite of trading solutions and services that empowers them to reach their goals and objectives. We look forward to Hanwha Life's support in accelerating our growth even further, particularly across Asia."
Brian Schaeffer, President of Velocity Clearing, added: "The Velocity Clearing team is well positioned for continued meaningful global expansion of our institutional business and we have made demonstrable progress in multiple geographies such as Europe, Asia, Latin America and the Middle East. This partnership builds on our plans, allowing us to effectively address growing customer demand in new markets and positioning us for long-term success."
Hanwha Life is committed to retaining Velocity Clearing's existing staff and promoting collaboration to foster synergies for the future. The extensive professional experience and expertise of Velocity Clearing's employees will be a valuable asset to Hanwha Life as it continues to grow.
The transaction is subject to customary closing conditions, including the receipt of various U.S. and South Korean regulatory approvals. Houlihan Lokey has acted as financial advisor, and Wollmuth Maher & Deutsch and Schulte Roth & Zabel have acted as legal advisors, to Velocity Clearing and its investors in connection with the transaction. BDA Partners has acted as financial advisor, and Skadden has acted as legal advisor to Hanwha Life in connection with the transaction.
About Velocity Clearing
Velocity Clearing is a technology-driven, self-clearing broker/dealer providing execution services, clearing, and custody along with access to stock locate services, securities lending, competitive financing, and a firm-wide focus on world-class customer service. Velocity Clearing supports retail traders and institutional clients including brokers/dealers, hedge funds, family offices, and proprietary trading firms in the United States and across the globe. With a growing team of professionals in multiple locations throughout the United States and across the globe, Velocity has the right combination of resources and people to provide seamless and reliable service to clients. Velocity Clearing is registered with the SEC and a member of FINRA and SIPC.
About Hanwha Life
Established in 1946, Hanwha Life is not only a leading South Korean life insurance company but also the first and oldest in the nation. For the past 78 years, Hanwha Life has played a critical role in developing the industry and expanding the country's economic growth. In 2023, Hanwha Life reported total assets of USD 113.77 billion, demonstrating its sound structure and firm commitment to adding innovative products and services that meet a wide range of customer needs.
For more information, visit: https://www.hanwhalife.com/static/company/english/EN_0000000_P10000.htm
Media Contact:
Hanwha Life
Erin Jundef
erin@bospar.com
Velocity Clearing
Rich Myers
Velocity@profileadvisors.com
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
South Korea's Hanwha Life to acquire majority stake in U.S.-based Velocity Clearing, allowing both companies to target global markets
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The First Time a Game in the Legendary Franchise Comes to Consoles
BELLEVUE, Wash., June 6, 2026 /PRNewswire/ -- Critically-acclaimed game development studio ArenaNet® tonight announced Guild Wars 3™, the third entry in the legendary and beloved Guild Wars® MMORPG franchise and their first new game since 2012. The game will release globally on PC, Steam, and PlayStation 5, marking the first time a Guild Wars game will appear on home consoles. The first beta test is scheduled for fall of 2027.
The official debut trailer features the first in-engine gameplay footage and can be viewed HERE. The first concept art and other assets are hosted at the Guild Wars 3 official press kit.
"Guild Wars 3 is a new era not just for ArenaNet and Guild Wars, but also for MMORPGs as a whole," said Colin Johanson, Guild Wars 3 Game Director and ArenaNet Studio Head. "The MMORPG genre has millions of players worldwide eager for new, modern experiences, and the opportunity to harness that excitement is immense. Our approach with Guild Wars 3 is to push MMORPGs forward, to create an online game world that feels believable, rewarding, responsive, and innovative while at the same time respecting players' time and providing a positive, supportive space to build community and enjoy new stories in our universe."
Taking place over a thousand years before the events of the original game, Guild Wars 3 is set in the Tyrian region of Orr, a vast wilderness frontier imbued with the world's magic. Nature entities with strong connections to the land called Vael spirits embody the vitality of this lush, verdant landscape. Various guilds are engaged in conflict over how to protect or exploit the bounty beyond civilization's borders. These multitudinous spirits will vary in size and influence within the ecosystems around them, with the most notable of these being the Seeker. As seen in the trailer, every player's Seeker will serve as a connection to the spirits of Orr and a mount that will carry them on their journeys through the game's open world.
Players will assume the role of a Vaelwarden, a member of a guild of adventurers committed to preserving and protecting both the spirits of the wild and the land of Orr itself. Through the deep character customization and skill-building gameplay the Guild Wars franchise is known for, players will seek adventure and confront danger across this sumptuous, vibrant online world, growing their relationships with the spirits of the wild, the inhabitants of Orr, and other Vaelwarden players.
A combat system designed from the outset to feel great on both a controller and keyboard rewards positioning by emphasizing the joy of movement and momentum. As players seamlessly transition between various movement modes, they can harness their speed and turn it into bigger damage and impact when fighting their foes.
More information about pricing, beta tests, release date, and gameplay features will be revealed later in 2026 and into 2027. Guild Wars 3 will be available directly from the developers at GuildWars3.com, and can be wishlisted on Steam and the PlayStation Store beginning today, with more information available at the game's official website.
About the Guild Wars Franchise
Guild Wars is the award-winning, visually stunning MMORPG franchise that originally launched in 2005 on PC. Boasting a timeless art-brought-to-life aesthetic, the epic grandeur of massive role-playing environments, fast-paced action combat, large-scale dynamic events that players tackle together in the open world, team-based competitive player-versus-player battles, and a sprawling fantasy storyline, the series is often proclaimed as having the friendliest player community in gaming. Guild Wars was relaunched as Guild Wars Reforged in 2025 and expanded to mobile devices in 2026. Guild Wars 2® launched in 2012 on PC and quickly earned accolades across the industry, including Time Magazine's 2012 Game of the Year. Unlike most competitors, the franchise has always been playable with no subscription fee required, welcoming over 29 million players across its history.
About ArenaNet
ArenaNet is the developer of the best-selling Guild Wars Reforged and the groundbreaking Guild Wars 2 massively multiplayer online PC role-playing games. The studio's mission is to create innovative online worlds, cultivate a vibrant and engaged global community of players, and to incorporate handcrafted artistry into every aspect of their games. ArenaNet formed in 2000, with press and fans consistently calling Guild Wars and Guild Wars 2 two of the best MMOs and RPGs of all time. Based in Bellevue, WA, ArenaNet is a wholly-owned subsidiary of Korean gaming giant NC.
The First Time a Game in the Legendary Franchise Comes to Consoles
BELLEVUE, Wash., June 6, 2026 /PRNewswire/ -- Critically-acclaimed game development studio ArenaNet® tonight announced Guild Wars 3™, the third entry in the legendary and beloved Guild Wars® MMORPG franchise and their first new game since 2012. The game will release globally on PC, Steam, and PlayStation 5, marking the first time a Guild Wars game will appear on home consoles. The first beta test is scheduled for fall of 2027.
The official debut trailer features the first in-engine gameplay footage and can be viewed HERE. The first concept art and other assets are hosted at the Guild Wars 3 official press kit.
"Guild Wars 3 is a new era not just for ArenaNet and Guild Wars, but also for MMORPGs as a whole," said Colin Johanson, Guild Wars 3 Game Director and ArenaNet Studio Head. "The MMORPG genre has millions of players worldwide eager for new, modern experiences, and the opportunity to harness that excitement is immense. Our approach with Guild Wars 3 is to push MMORPGs forward, to create an online game world that feels believable, rewarding, responsive, and innovative while at the same time respecting players' time and providing a positive, supportive space to build community and enjoy new stories in our universe."
Taking place over a thousand years before the events of the original game, Guild Wars 3 is set in the Tyrian region of Orr, a vast wilderness frontier imbued with the world's magic. Nature entities with strong connections to the land called Vael spirits embody the vitality of this lush, verdant landscape. Various guilds are engaged in conflict over how to protect or exploit the bounty beyond civilization's borders. These multitudinous spirits will vary in size and influence within the ecosystems around them, with the most notable of these being the Seeker. As seen in the trailer, every player's Seeker will serve as a connection to the spirits of Orr and a mount that will carry them on their journeys through the game's open world.
Players will assume the role of a Vaelwarden, a member of a guild of adventurers committed to preserving and protecting both the spirits of the wild and the land of Orr itself. Through the deep character customization and skill-building gameplay the Guild Wars franchise is known for, players will seek adventure and confront danger across this sumptuous, vibrant online world, growing their relationships with the spirits of the wild, the inhabitants of Orr, and other Vaelwarden players.
A combat system designed from the outset to feel great on both a controller and keyboard rewards positioning by emphasizing the joy of movement and momentum. As players seamlessly transition between various movement modes, they can harness their speed and turn it into bigger damage and impact when fighting their foes.
More information about pricing, beta tests, release date, and gameplay features will be revealed later in 2026 and into 2027. Guild Wars 3 will be available directly from the developers at GuildWars3.com, and can be wishlisted on Steam and the PlayStation Store beginning today, with more information available at the game's official website.
About the Guild Wars Franchise
Guild Wars is the award-winning, visually stunning MMORPG franchise that originally launched in 2005 on PC. Boasting a timeless art-brought-to-life aesthetic, the epic grandeur of massive role-playing environments, fast-paced action combat, large-scale dynamic events that players tackle together in the open world, team-based competitive player-versus-player battles, and a sprawling fantasy storyline, the series is often proclaimed as having the friendliest player community in gaming. Guild Wars was relaunched as Guild Wars Reforged in 2025 and expanded to mobile devices in 2026. Guild Wars 2® launched in 2012 on PC and quickly earned accolades across the industry, including Time Magazine's 2012 Game of the Year. Unlike most competitors, the franchise has always been playable with no subscription fee required, welcoming over 29 million players across its history.
About ArenaNet
ArenaNet is the developer of the best-selling Guild Wars Reforged and the groundbreaking Guild Wars 2 massively multiplayer online PC role-playing games. The studio's mission is to create innovative online worlds, cultivate a vibrant and engaged global community of players, and to incorporate handcrafted artistry into every aspect of their games. ArenaNet formed in 2000, with press and fans consistently calling Guild Wars and Guild Wars 2 two of the best MMOs and RPGs of all time. Based in Bellevue, WA, ArenaNet is a wholly-owned subsidiary of Korean gaming giant NC.
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Guild Wars 3, Modern Evolution of the MMORPG, Announced at Summer Game Fest for PC and PlayStation 5
