Barclays targets big-ticket deals on NSE with its new unit
Barclays Bank’s newly launched brokerage unit, Barclays Financial Services Ltd, is targeting institutional investors with plans to launch Exchange Traded Funds and derivatives, it announced on Friday. The lender said it is keen to leverage its experience elsewhere.
EFTs are vehicles which enable investors to pool cash to buy into a diverse number of stocks and bonds. “BFSL is set to bring far more to the Kenyan market than a solid capital base, embedded continental reach and a market leading brokerage team,” the bank’s chief executive Jeremy Awori said.
“We have combined these elements for purpose...to launch new services, new investment options and new level of research in our stock broking market.”
Other products to be offered include shares and bond trading services. A research portal for clients – Barclays Live – will also be available to clients for subscription to get data on preferred products.