Crédit Agricole Cheuvreux announces the opening of a subsidiary in Istanbul

5 September 2008

CA Cheuvreux announces the opening of a subsidiary in Istanbul, which has already begun operations with an execution offer.

CA Cheuvreux is building up a team with expertise in the region that will eventually comprise 15 professionals in the coming months, including 5 analysts, 3 sales people, 1 economist and 2 sales traders. The team will be managed by Attila Kadikoy, and the research activity will be headed by Can Yurtcan, who is due to arrive on 15 September. Mr Kadikoy and Mr Yurtcan both previously held executive positions with Turkish brokers in Istanbul. CA Cheuvreux’s ambition is to rank in the Top 5 in the region for research and execution.

The research offer will cover the 60 stocks with the largest market capitalisations in Turkey. With regard to execution, CA Cheuvreux is already a member of the Istanbul Stock Exchange, and offers Program Trading, Sales Trading, and in the weeks to come Direct Market Access and Algorithmic Trading.

François Simon, CEO of CA Cheuvreux, remarked: “After the launch of our Middle Eastern activities via our Dubai office and the recent opening of our Vienna branch, this new development fits with our strategy of accompanying our clients, who are increasingly turning their sights to emerging markets, which offer interesting investment opportunities.”

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