Russian Firm Eyes Prime Brokerage Boost

Sep 29 2010 | 8:35am ET

Russia’s Otkritie Securities has unveiled an ambitious plan to expand its year-old prime brokerage.

Otkritie aims to more than double the number of its U.K. clients from 40 to 100 by the end of next year, roughly doubling its assets to US$2 billion, HFMWeek reports. The firm offers prime brokerage operations in the U.K., Russia, the U.S. and Scandinavia, and execution services in a variety of emerging markets—which will include India beginning next month.

“We are building serious traction in Europe and expect to make rapid progress in the coming months, CEO Roman Lokhov said. “Our aim is to be the leading prime broker for emerging market hedge funds in the world.”

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