07 August, 2020 | AtoZ Markets – R.J.O'Brien & Associates provides financial services, including integrated risk management, dynamic interfaces, multi-account trading, and third-party valuation. Meanwhile, Lombard Forte Securities Limited (formerly Wallich & Matthes Dubai Limited) was founded in 2007. The company offers financial assets such as cash equities, bonds, structured products and equity derivatives. Both firms regulated by the Dubai Financial Services Authority.
RJO Acquires LFS to Expand Geographic Reach
RJ O'Brien Middle East and North Africa (MENA) affiliate has acquired Lombard Forte Securities Limited to expand the footprint and products in the region. RJO Chairman and CEO Gerald Corcoran said:
"This acquisition of Lombard Forte aligns perfectly with our strategic goals of expanding our product offering into credit and equities markets, further building on our over-the-counter presence, and broadening our geographic reach into some of the most exciting emerging markets in the world today."
LFS CEO and co-founder Kunal Savjani have become Senior Executive Officer of RJO MENA. He has also been appointed as Managing Director of R.J. O'Brien, Global Head of Equity and Credit Sales. Fadi Kassis, formal Chief Financial Officer of LFS, will continue to operate Forte Securities Limited.
Savjani established Lombard Securities in 2012. Then, he and Fadi Kassis founded LFS in 2015. Savjani was an Emerging Markets Equity Derivatives Broker at Tullett Prebon and BGC Partners from 2007 to 2012.
"The culture Fadi and I created at LFS have always been a vital part of our success. Until I met Dan and learned more about RJO that the idea of acquisition became very intriguing. Our team is truly excited about joining forces with this organization that is of such a like mind, particularly with its emphasis on superb quality and lasting client relationships. From our initial focus on the institutional equities market when we created LFS in the DIFC (Dubai International Financial Centre), the scope of the firm has steadily broadened to serving clients across a variety of markets" said Kunal Savjani.
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