Parex Assets Management (PAM), an asset management company owned by Parex Bank, has established a subsidiary in Ukraine, Parex Asset Management Ukraine, to launch the fund management operations there by the end of the year
Published:
6 September 2004 y., Monday
Parex Assets Management (PAM), an asset management company owned by Parex Bank, has established a subsidiary in Ukraine, Parex Asset Management Ukraine, to launch the fund management operations there by the end of the year.
Parex Asset Management head Roberts Idelsons told BNS that PAM raised its share capital to 1.7 million lats (EUR 2.57 mln) in connection with establishing the subsidiary. He said the company invested 700,000 euros in the share capital of the Ukrainian subsidiary.
Idelsons said the company in Ukraine will launch operations after it gets the license which might take place before the end of the year. PAM in Ukraine wants to deal with management of investment and pension funds.
He said PAM decided to establish the subsidiary in Ukraine as part of implementation of its expansion strategy. Ukraine was chosen for the purpose as it has a prospective market, an ongoing pension reform, growing economy and developing a globally interesting market. “We want to build our base in Ukraine in due time”, he said.
Asked about rivals Idelsons said there are some local companies in Ukraine but they are relatively small while no foreign companies companies are present there. He said PAM can cooperate with many partners in Ukraine, including companies, banks, insurance companies.
At present PAM has operations in Moscow and Kiev and for the time being has no plans for further expansion.
Šaltinis:
Parex Bank
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
How will economic policies adapt in 2020 when a quarter of the EU population is over 65? Can economics better predict how banks will react to credit crunches in the future, and what their impact will be on the wider economy?
more »
The EBRD is supporting the development of one of the first modern food retail chains in Turkmenistan with a $1.9 million equity investment in Ak Enar.
more »
While on a working visit to Ukraine, President of the Republic of Lithuania Dalia Grybauskaitė has underlined that Ukraine might become a very important energy partner for Lithuania and for the whole European Union but only transparent and open relations will lead to success in this area.
more »
On 25 November in Vilnius, Lithuania’s Vice-Minister of Foreign Affairs and President of the Nordic Investment Bank discussed the issues of the Northern Dimension Partnership on Transport and Logistics (the secretariat of which is being established at the Bank), issues of the NIB cooperation with Lithuania and perspectives of the NIB’s activities in the country.
more »
The European Bank for Reconstruction and Development has adopted a new strategy for the Russian Federation.
more »
Consumer protection requires transparent and consistent trade rules, believe MEPs.
more »
The European Investment Bank (EIB) is lending CZK 2 billion (approx. EUR 76 million) to the South Moravia Region for co-financing the Region’s priority infrastructure projects supported by the EU Structural and Cohesion Funds over the period 2007 – 2013.
more »
Seeking to strengthen business partnership between Israel and Lithuania the Israel and Lithuania Chamber of Commerce has been recently established in Lithuania.
more »
AB DnB NORD Bankas, notifies that on 24 November 2009, the member of the Management Board and Executive Vice-president of AB DnB NORD Bankas dr. Jekaterina Titarenko has been appointed as Chief Financial Officer of Bank DnB NORD Group.
more »
Parliament gave its backing on Tuesday for €400 million-plus in budget aid to Serbia, Bosnia and Herzegovina, Armenia and Georgia.
more »