Equity Bank Group’s investment banking subsidiary – Equity Investment Bank (EIB) – has announced partnership with global investment services firm, Exotix to boost its market development strategies.
The agreement subject to regulatory approvals, will allow the two Investment Banking players to collaborate closely on research, sales and trading platforms.
The London based firm with regional offices in Dubai and New York, is a boutiqueinvestment bank specialising in illiquid bonds and loans, equities, structured finance and capital raising.
EIB is a member of the Nairobi Stock Exchange and is locally licensed to provide investment banking services including stock brokerage.
Equity Bank Group, Managing Director and CEO, Dr James Mwangi, described the collaboration as one of the key efforts to revitalise Equity Investment Bank’s capacity as a key player in the local and regional investment banking market.
Exotix CEO Phillip Southwell described the partnership with Equity Investment bank as a “logical step” geared at deepening the two firms’ delivery capacity.
This move will build on Exotix’ existing African capability, and make the most of our existing offering,” Southwell said.
Exotix Global Head of Equities Ali Khalpey, said the company is eyeing to meet the demand for its offering in East Africafollowing the recent expansion of our equities team across research, sales and trading.
Under the arrangement, EIB will execute Kenya and East Africa fixed income and equity trades for Exotix’ international and regional institutional clients.
EIB’s Equity and Fixed Income sales team will be integrated within Exotix’ Global Frontier sales teams.