GGICO brokerage arm links with German bank

Dubai-based conglomerate Gulf General Investment Company (GGICO) yesterday announced the merger of its brokerage arm Stock Securities with German Group Baader Bank. The new merged company will be known as Gulf Baader Capital Market.

Stock Securities, a share brokerage house based in Dubai established in 2004, has wide experience in brokerage, trading in the Dubai Financial Market and the Abu Dhabi Securities Market. "Stock Securities, plans major expansion through this merger and will be widening its range of services to corporate advisory and asset management in addition to the brokerage service," said Mohammed Abdalla Juma Al Sari, Managing Director of GGICO. "We have plans to add more branches across the UAE."

Baader Bank, a German based securities trading company, commands one third of the trading volumes at seven German stock exchanges; also a member of Paris, Zurich, Vienna, Amsterdam Stock exchange and London Stock Exchange.

Baader Bank, through their Oman joint venture, GBCM, has joined the Stock Securities. GBCM is a joint venture of Baader Bank Germany and GIS (Gulf Investment Services) Oman.

GGICO, established in 1973, is a Dubai Financial Market-listed public shareholding company. It operates through more than 30 subsidiaries and affiliates, activities in manufacturing, industrial, financing and brokerage, insurance, retail, services, trading, transport, hospitality, real estate development and investment in shares and securities. GGICO is rated by Moody's and Fitch.

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