Religare gets FSA approval for control of Hichens

Religare gets FSA approval for control of Hichens
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First Published: Fri, May 16 2008. 02 21 PM IST
Updated: Fri, May 16 2008. 02 21 PM IST
New Delhi: Religare Capital Markets International (UK) Limited, an indirect wholly owned subsidiary of Religare Capital Markets Limited (RCML), has received approval from the Financial Services Authority (FSA) for a change in control of Hichens, Harrison & Co Plc.
The acquisition of Hichens will allow RCML to create an international distribution network for Religare’s domestic institutional business.
Besides this, it will also provide Religare the opportunity, as an integrated Indian financial services group, to service the needs of Indian corporates through its global network.
Going forward, the group intends to capture more capital with an improved array of investment products along with a strong focus on innovation and broaden its reach into the mid-market segment in select emerging markets.
As part of its recent initiatives, Religare has partnered with Aegon to launch Life Insurance and Mutual fund products in India and with Macquarie, for a wealth management joint venture.
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First Published: Fri, May 16 2008. 02 21 PM IST