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Investors 'to benefit' from Barjeel-BNP Paribas tie-up
DUBAI — Investors of Barjeel Geojit Securities LLC, a leading UAE-based provider of financial services, are to benefit by way of best practices, global products and technology, as a result of the recent partnership between major Indian brokerage Geojit Financial Services Ltd and BNP Paribas Personal Investors.
The Geojit-BNP Paribas partnership was formalised in India in March this year when the leading French banking group acquired shares in Geojit Financial Services Ltd, the parent company of Barjeel Geojit Securities, and became its single largest shareholder with a holding of 27.18 per cent which will go up to 34.35 per cent. The company is in the process of being renamed 'Geojit BNP Paribas Financial Services Limited' in India.
The plans for providing wider investment options for Barjeel Geojit's customers using the global expertise of BNP Paribas Personal Investors unit, were announced at a joint Press conference addressed by Shaikh Sultan bin Saud Al Qasimi, chairman of Barjeel Geojit Securities, Olivier Le Grand, chairman of BNP Paribas Personal Investors and Mr. C. J. George, Managing Director of Geojit Financial Services Limited.
“The access to BNP Paribas expertise will naturally take Barjeel Geojit Securities into a new league, enabling us to provide our investors with opportunities and advice on investing in international markets,” said Shaikh Sultan bin Saud Al Qasimi. “Our customers will benefit strongly from BNP Paribas' best practices, global products and technology." Shaikh Sultan announced that Jean Christophe Gougeon, from BNP Paribas, had joined the Board of Barjeel Geojit Securities as of May14, 2007, further cementing the partnership.
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