Ratio Magazine :: The Inside Track to East Africa’s Economies - EAC Regional: Press Releases: CFC Stanbic Group Relaunches Securities Entity

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EAC Regional: Press Releases: CFC Stanbic Group Relaunches Securities Entity

Friday, 29 May 2009

Nairobi 27 May 2009 --- CfC Stanbic Group today announced the relaunch of its securities entity, CfC Stanbic Financial Services, to reflect its new status as a member of The Standard Bank Group.

The re-launched entity will focus on its core business of securities brokerage and placement services at the Nairobi Stock Exchange in line with its vision of becoming the leading securities firm in East Africa in terms of brokerage turnover, service levels, compliance of regulatory requirements, placement mandates, recruitment, retention of the best talent and offering a return to shareholders.

As a member of the Standard Bank Group, CfC Stanbic Financial Services becomes one among other Standard Bank Group securites businesses located in major financial centres around the world. This will enable CfC Stanbic Financial Services to offer services at an international level to both local and foreign investors.

“By re-launching, we are renewing our commitment to the development of long term relationships with our clients centered on efficiency, trust and confidentiality,” said Nkoregamba Mwebesa, Managing Director of CfC Stanbic Financial Services Ltd. “

Part of the key success pillars that CfC Financial Services will enjoy are the numerous synergies it will utilize from the Standard Bank Group, one of the largest emerging financial services organizations in the world. This includes access to a huge resource base in human capital and the capability to offer seamless services through other securities businesses in Lagos, Johannesburg, London, New York, Moscow and Istanbul.

The re-launched company will continue to service retail clients whilst diversifying into institutional clients both locally and internationally. “There is perhaps no better time to re-launch our services because the new CMA guidelines on ownership and management of stock-broking firms might even the playing field,” added Mwebesa. “It is now the opportune time to capitalize on these major opportunities.”

In addition, CfC Stanbic Financial Services has an acclaimed research function that is poised to keep it ahead of the competition by analyzing market trends, long term sustainability and up to date information in the securities market both locally and internationally.

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