Rand Merchant Bank Eyes Increased Activities in Nigerian Capital Market
The Managing Director of Rand Merchant Bank (RMB) Nigeria, Mr. Michael Labie yesterday said the company would increase its activities in the Nigerian capital.
Speaking at the Nigerian Stock Exchange (NSE) to sound the closing gong in commemoration of the bank’s fifth anniversary in Nigeria, Labie said RMB currently trade in the market through its stockbroking arm.
“You may be aware that we have RMB Stockbrokers playing in the market. We do trade in the market. But beyond that, we want to help companies that want to list. We are part of the issuing houses for the planned MTN issue and a few others that are in the pipeline. We are collaborating to come out with different products that will trade in the market,” Labie said.
The RMB boss, who commended the efforts of the NSE to deepen the market, said the Exchange was working on several derivatives that would attract more investments to the bourse.
“The exchange is busy working on several derivatives products. I think when those products come, they will help to broaden the products that offered in the market and increase the volume that get traded. Also, the Premium Board that is emphasising good corporate governance will further enhance confidence in the market which will attract both foreign and domestic investments,” he added.
Reviewing the five years of operating in Nigeria, Labie said it had been an interesting journey. “Like any developing economy, it got is challenges but you have to appreciate the challenges and navigate your way through. We have navigated some of the challenges and have been able to work with our clients to help them to do and along the way progress in our own business. So in the last five years, I think the journey has been progressive,” he said.
Looking ahead, Labie said the bank would do more for its clients and conclude some of the deals that it has in the pipeline.
“So, you can think of us as one of the leading capital market players that have brought issuers to the market and that has also structured fixed income deals. We want to be seen as a trusted merchant bank in the Nigerian market. We want our clients to come to us as an institution that they can trust to help them think through the challenging issues that they have been grappling with,” he said.