KeyCorp to launch services in early 2005
Published:
11 January 2005 y., Tuesday
The weakening U.S. dollar, along with emerging investment opportunities in Central and Eastern Europe following enlargement of the European Union, is providing a strong incentive for U.S. financial institutions to enter the Czech market.
U.S. banking group KeyCorp became the first to do so when it announced last month that it was heading to the Czech Republic. The country is likely to serve as a take-off point for KeyCorp's activities in the region, said Daniel Brzkovsky, head of the group's Czech partner, Key Investments.
"KeyCorp is set to launch its activities here in the first half of next year," Brzkovsky said. "It'll focus on trading with mutual funds and on corporate finance."
KeyCorp won't be opening any retail-banking facilities in the country, and its operations will be based at the offices of Key Investments, Brzkovsky said.
Cooperation with KeyCorp initiated the re-branding of brokerage firm SI Asset Management to Key Investments in November. The company had revenues of 15.3 million Kc ($651,000) last year and reported 443,000 Kc in net profit.
Brzkovsky said that the collaboration with KeyCorp will help the firm penetrate other markets in the region. Key Investments will assist in selling mutual funds of Victory Capital Management, one of KeyCorp's units, and help launch new products as well as provide asset management and consulting services.
Šaltinis:
The Prague Post
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Investment Bank is providing a EUR 718 million strong support for rail transport, electricity distribution as well as energy efficiency and renewable energy in Turkey.
more »
The European Investment Bank (EIB) has approved a EUR 150 million loan for expanding the Port of Barcelona. EIB Vice-President Carlos da Silva Costa and the Chairman of the Barcelona Port Authority, Jordi Valls, signed the finance contract in Catalonia’s capital.
more »
The extent to which hedge funds should be regulated is one of the key issues facing MEPs on the Economic and Monetary Affairs Committee.
more »
The European Investment Bank (EIB) is lending CZK 2 billion (approx. EUR 73 million) to the Municipality of Plzen (West Bohemia) to implement priority urban regeneration schemes identified in the city’s 2004 Development Plan.
more »
High-speed rails, supporting indigenous people's rights, protecting nature and wildlife, student loan facilities, construction and refurbishment of hospitals and reduction of industrial pollution are just a few projects supported by the European Investment Bank.
more »
The European Commission has authorised, under EC Treaty state aid rules, €14.3 million of aid, which the Slovak authorities intend to grant to Volkswagen Slovakia, belonging to the Volkswagen AG, for the transformation of an existing plant in Bratislava.
more »
MEPs began acting on their new Lisbon Treaty power to co-decide fisheries policy with Member States on 1 December - the day the treaty took effect - with a Fisheries Committee indicative vote on three legislative proposals.
more »
With seasons’ holidays approaching DnB NORD Bankas will offer better cash exchange rates for Great Britain’s pounds, Swedish, Norwegian and Danish krones until 31st December.
more »
The European Investment Bank (EIB) today agreed to provide a EUR 40m loan to FirstRand Bank to promote energy efficiency and renewable energy projects across South Africa.
more »
The European Commission has today approved an application from Lithuania for assistance under the European Globalisation adjustment Fund (EGF).
more »