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
When you fill up your car with petrol you often find that your hand will reek of petrol unless you have worn gloves.
more »
The EU is going through its worst recession since WWII. Inflation has slowed, but employment and public finances are hard hit. The situation should stabilise in 2010.
more »
In the current economic environment, banks should carefully analyze the current and future total cost of ownership of their technology assets, and evaluate the outsourcing alternative.
more »
Commission proposes first EU law on hedge funds and issues guidelines on bank pay practices.
more »
On 30 April, Lithuania’s Minister of Foreign Affairs Vygaudas Ušackas took part in the round table discussion “The European Union’s External Trade Policy and Lithuania’s Positions: Threats and Possibilities for the Lithuanian Industry”.
more »
Since 28 April this year, the clients of AB Bank SNORAS will be able to process their financial matters in a clearer and more user-friendly environment of “Internet Bank+” system.
more »
2009 ageing report: Europe tackling the challenge of an ageing population but the recession threatens a setback.
more »
More choice, investment and security of supply lie at the heart of the 3rd energy package.
more »
Swine flu, a new strain of influenza, has so far left more than a hundred dead. But in one sector, the illness could have huge benefits.
more »
Central European bargain hunters are crossing borders for the best buys. Slovakian shoppers in Hungary are making the most of their new eurozone membership.
more »