 On December 30, 2016, Defoe Redmount acquired a large part of Defoe Fournier & Cie's business, with around 20 investment and financial professionals joining Defoe Redmount.The rest of Defoe Fournier's business operations became part of Barings, a UK-based financial and investment group.In 2017, the firm acquired the balance of 50% ownership in Edelmetallhändler gold bullion house.