Global brokerage firm opens HK branch (hktdc.com)

Fimat, one of the world's leading global brokerage organisations and a part of Société Générale Securities Services, recently announced the opening of Fimat International Banque SA (Hong Kong Branch), which will operate with a full banking license.

Fimat's new banking status in Hong Kong will help leverage its operations in the region, benefiting directly from the newly acquired financial strength, the bank will offer clients new services, such as increased financing capabilities and prime brokerage services, as well as more complex products following regulatory approvals.

The Chairman and CEO of Fimat Group, Patrice Blanc, said: "This branch is a key addition to the existing Fimat network in Asia-Pacific. The acquisition of our full banking license in Hong Kong follows a very rigorous process which illustrates our commitment to the Asia-Pacific region and to Hong Kong in particular."

The CEO of Fimat in Asia-Pacific, Wessel van der Scheer, commented: "With the establishment of Fimat International Banque SA (Hong Kong Branch) as our regional hub, Fimat customers will benefit from a quicker time-to-market delivery for new products and services from this region."

Fimat in Hong Kong comprises 150 employees; more than 90 of them will be located in the new Fimat International Banque SA structure. The company has been operating in Hong Kong since 1993 through Fimat Hong Kong Limited (a participant of the HKEx and a licensed corporation of the SFC) and Fimat Derivatives Hong Kong Limited.

The Director-General of Investment Promotion at Invest Hong Kong, Mike Rowse, congratulated Fimat on its new milestone in Hong Kong. He said: "Fimat's presence clearly demonstrates the company's long-term commitment to become an integral member of our financial sector, and at the same time, demonstrate the company's confidence in our city."

Fimat is part of Société Générale Group and is a subsidiary of Société Générale Securities Services. Fimat Group consists of more than 1,850 staff in 25 markets. It is a member of 45 derivatives exchanges and 19 stock exchanges worldwide.