Brokerage Merger or EIS and NBDS
We are pleased to
announce the successful
merger between Emirates
International Securities
LLC (EIS) and NBD
Securities LLC (NBDS) on
21/11/09. Despite the
challenges of
synchronizing the
brokerage merger with
the Finacle integration,
the activity was
completed smoothly on
the scheduled date. The consolidated entity
will account for more
than 43,000 clients
emerging as the largest UAE based retail
brokerage firm securing
the top most ranking in
Dubai Financial Market
in terms of market
share.
The integration of two brokerage institutions which is a path breaking event in brokerage mergers in UAE was achieved despite the constraints encountered due to the inadequacy of clear statutory/regulatory provisions that governed this scale of operational integration. The integration is largely attributed to the far-sighted vision of the Senior Management within the Group. The sharing of common work environment and cultural integration between EIS and NBDS prior to the actual merger has paved the way for smooth transition.
Mr. Hamood Al Yasi, General Manager of the merged entity Emirates NBD Securities expressed his gratitude to all those who contributed to the successful completion of the merger, which was a part of the Corporate vision of the Bank. He also promised that the merger would lead to wider offering for the customers and introduction of new products and wider avenues of investment.
Thank you.
The integration of two brokerage institutions which is a path breaking event in brokerage mergers in UAE was achieved despite the constraints encountered due to the inadequacy of clear statutory/regulatory provisions that governed this scale of operational integration. The integration is largely attributed to the far-sighted vision of the Senior Management within the Group. The sharing of common work environment and cultural integration between EIS and NBDS prior to the actual merger has paved the way for smooth transition.
Mr. Hamood Al Yasi, General Manager of the merged entity Emirates NBD Securities expressed his gratitude to all those who contributed to the successful completion of the merger, which was a part of the Corporate vision of the Bank. He also promised that the merger would lead to wider offering for the customers and introduction of new products and wider avenues of investment.
Thank you.
