The Sinara Financial Corporation holding of the Russian billionaire Dmitry Pumpyansky bought the Cypriot investment firm Think Wealth. The deal should help the company "expand the range of services in foreign markets"
September 8, 2021, | AtoZ Markets – Sinara Financial Corporation, part of the Sinara group of Russian billionaire Dmitry Pumpyansky, acquired brokerage company registered in Cyprus. This is stated in the statement of the holding received by AtoZ Markets.
Following the completion of the transaction, Think Wealth Ltd. will operate under the brand name Sinara Financial Corporation (Europe) Ltd. Roman Lokhov, who also holds the position of CEO of Sinara Financial Corporation, became the chairman of the board of directors of the company. Irina Khrabrova has been appointed general director of the company, "who has over 20 years of experience in the investment business and has held similar positions in other brokerage companies regulated by the legislation of Cyprus for the last seven years," the press release said.
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How will Think Markets' acquisition help Sinara Financial?
The acquisition of the Cypriot investment firm should help Sinara Financial Corporation "expand its range of services in overseas markets for both institutional and retail clients," the release said. “The purchase of a licensed European broker is an important stage in the development of the company, one of the fundamental elements of our platform for the provision of wealth management services, brokerage services and the provision of services in global markets,” said the head of the financial holding Roman Lokhov.
By the end of 2021, Sinara plans to continue “expanding the geography of its business” and close the deal to buy an investment firm in the UK, he said.
Sinara announced the creation of an international financial holding in May this year. At the same time, the company announced that Sinara Financial Corporation would buy several brokerage companies in the EU and Great Britain in order to "offer Russian clients access to international markets, as well as provide services for Western investors wishing to enter the markets of Russia and the CIS."
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