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Fimat, one of the world's leading global brokerage organisations and a part of Societe Generale Securities Services, announced today (November 15) the opening of Fimat International Banque SA (Hong Kong Branch), which will operate with a full banking licence.
Fimat's new banking status in Hong Kong will help leverage its operations in the region, benefiting directly from the newly acquired financial strength, the bank will offer clients new services, such as increased financing capabilities and prime brokerage services, as well as more complex products following regulatory approvals.
The Chairman and CEO of Fimat Group, Mr Patrice Blanc, said, "This branch is a key addition to the existing Fimat network in Asia-Pacific. The acquisition of our full banking licence in Hong Kong follows a very rigorous process, which illustrates our commitment to the Asia-Pacific region and to Hong Kong in particular."
The CEO of Fimat in Asia-Pacific, Mr Wessel van der Scheer, commented, "With the establishment of Fimat International Banque SA (Hong Kong Branch) as our regional hub, Fimat customers will benefit from a quicker time-to-market delivery for new products and services from this region."
Fimat in Hong Kong comprises 150 employees; more than 90 of them will be located in the new Fimat International Banque SA structure. The company has been operating in Hong Kong since 1993 through Fimat Hong Kong Limited (a participant of the HKEx and a licensed corporation of the SFC) and Fimat Derivatives Hong Kong Limited.
The Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse, congratulated Fimat on its new milestone in Hong Kong. He said, "We are delighted to see the continued growth and development of a leading financial institution in our city. We are particularly pleased that Fimat has also recently moved its regional headquarters to Hong Kong. The Hong Kong office will now oversee business operations in India, Australia, Singapore, Japan, Taiwan and in future, Mainland China. These decisions clearly demonstrate the company's long-term commitment to becoming an integral member of our financial sector, and at the same time, demonstrate the company's confidence in our city."
Fimat is part of Societe Generale Group and is a subsidiary of Societe Generale Securities Services. Fimat Group consists of more than 1,850 staff in 25 markets. It is a member of 45 derivatives exchanges and 19 stock exchanges worldwide. In 2005, Fimat achieved a global market share of 5.3% on major derivatives exchanges of which Fimat and its subsidiaries are members. For more information about Fimat, please visit the website at www.fimat.com.
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing the support needed to establish or expand a business presence here. For more information, please visit the website at www.investhk.gov.hk.
Ends/Wednesday, November 15, 2006
Issued at HKT 15:29
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