BSC enters US market with broker-dealer acquisition
05 October 2015 New York
Image: Shutterstock
The BSC Financial Group has acquired Alforma Capital Markets, the New York-based subsidiary of Alfa-Bank.
The move will allow BSC to break into the North American market by taking full control of the broker-dealer, pending approval by the US regulators.
The Securities and Exchange Commission and the Financial Industry Regulatory Authority are expected to approve the purchase by the end of 2015.
The company will be re-branded as BCS Americas under the continued leadership of CEO, David Denson.
The subsidiary will provide brokerage and investment services to US-based institutional clients looking to access Russian markets.
BSC is the largest securities broker on the Moscow Exchange, currently controlling 25 percent of securities trading across all asset classes.
Roman Lokhov, CEO of global markets and investment banking at BCS, said: “Despite the temporary geopolitical challenges, US-based institutions remain the leading international investors in emerging and Russian assets. “
“Therefore we see huge potential in the US for our business to seize significant market share. We expect the macro and geopolitical conditions in Russia to recover eventually, and believe this is the right time to invest in our ability to service the US and expand our platform.”
The move will allow BSC to break into the North American market by taking full control of the broker-dealer, pending approval by the US regulators.
The Securities and Exchange Commission and the Financial Industry Regulatory Authority are expected to approve the purchase by the end of 2015.
The company will be re-branded as BCS Americas under the continued leadership of CEO, David Denson.
The subsidiary will provide brokerage and investment services to US-based institutional clients looking to access Russian markets.
BSC is the largest securities broker on the Moscow Exchange, currently controlling 25 percent of securities trading across all asset classes.
Roman Lokhov, CEO of global markets and investment banking at BCS, said: “Despite the temporary geopolitical challenges, US-based institutions remain the leading international investors in emerging and Russian assets. “
“Therefore we see huge potential in the US for our business to seize significant market share. We expect the macro and geopolitical conditions in Russia to recover eventually, and believe this is the right time to invest in our ability to service the US and expand our platform.”
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