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Hinduja Bank Ltd Acquires 51% of the Historical Indian Stock Broking Firm Paterson Ltd - Hinduja Bank (Switzerland) Ltd announced the acquisition of a majority of Paterson Securities Pvt Ltd with an additional purchase of around 11% of the Chennai based stock broking and financial services firm
Hinduja Bank Ltd Acquires 51% of the Historical Indian Stock Broking Firm Paterson Ltd

 

NewswireToday - /newswire/ - Geneva, Switzerland, 2009/12/07 - Hinduja Bank (Switzerland) Ltd announced the acquisition of a majority of Paterson Securities Pvt Ltd with an additional purchase of around 11% of the Chennai based stock broking and financial services firm.

   
 
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This operation follows Hinduja Bank’s 40% participation in Paterson, in December 2008.

As one of India’s oldest brokerage houses, Paterson is well-known for the excellence of its investment services, as well as for the depth and long-standing relationships with companies, entrepreneurs and investors in South India as well as major cities across the nation. Dun & Bradstreet’s annual surveys have regularly recognized Paterson amongst the leading stock broking companies in India. Paterson serves a diversified group of customers comprising financial institutions, large corporate groups, high net-worth individuals and retail clients. Over the last year, it has expanded from 15 to 30 branches, and increased its transaction volume significantly.

Following a successful collaboration started in December 2008, Paterson Securities Pvt Ltd has become a key platform for the banking group in its integrated offer of access to India. The company will remain a separate entity, and become the central partner for Hinduja Bank in India, for stock broking, corporate finance advisory, research and asset management related services.

“Our close collaboration with Paterson’s leaders and employees have convinced us of the important role that the firm can play in the Banking Group’s expansion in India. We are excited to further strengthen our global and local services together.” Ivan Schouker, Chief Executive, Hinduja Bank (Swizterland) Ltd

“The clear synergies and respective strengths of our institutions will enable us to expand and grow faster. The Paterson team is well geared to contribute to the Banking Group’s growth.” Maitreyan Amarnath, Chief Executive, Paterson Securities Pvt Ltd

About Paterson Securities Pvt Ltd

Established in 1935 and based in Chennai, PATERSON SECURITIES PVT LTD is one of India’s oldest stock broking firms and a founding member of the Madras Stock Exchange. PATERSON’s business operations focus on stock broking, derivatives trading, portfolio and wealth management, NRI services, government securities, corporate advisory / investment banking and allied financial services. PATERSON is a member of National Stock Exchange and Bombay Stock Exchange for Currency Trading. Paterson is also a SEBI-registered Portfolio Manager, Depository Participant with Central Depository Services and an AMFI-registered Mutual Fund Advisor.

About Hinduja Bank (Switzerland) Ltd

Previously known as Amas Bank (Switzerland) Ltd, Hinduja Bank (Switzerland) Ltd (hindujabank.com) was founded as a finance company in 1978 and became a Swiss regulated bank in 1994. Headquartered in Geneva, the Bank has developed its network in Switzerland with offices in Zurich, Lucerne, Basle and St Margrethen. Its global reach includes a presence in Dubai, London, Paris, New York and Mauritius. Over the years, its core businesses have expanded to comprise Wealth Management, Trade Finance Services and Corporate Advisory. The latter includes Mergers & Acquisitions and advice to companies investing in the emerging markets where Hinduja Bank (Switzerland) Ltd has long-standing expertise.

 
 
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Written by / Agency / Source: Amas Bank (Switzerland) Ltd

 
 

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Hinduja Bank Ltd Acquires 51% of the Historical Indian Stock Broking Firm Paterson Ltd

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Publisher Contact: Achille Deodato - AmasBank.com 
+41 22 906 08 08 adeodato[.]hindujabank.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Amas Bank (Switzerland) Ltd securities in any jurisdiction including any other companies listed or named in this release.

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