Rumoured last December that this may be jumping the gun, Credit Suisse finally made a play for Turkish brokerage house Baran Securities (Baran Menkul). According to Reuters, "Credit Suisse, which already had an office in Istanbul, said it now held a broker-dealer licence on the Istanbul Stock Exchange (IMKB) and would offer expanded equity sales, trading and research in Turkey." On May 5, Credit Suisse began trading under the name of Credit Suisse Istanbul Menkul Değerler A.S. Exact numbers of the deal were not disclosed.
I would like to thank my friends at Reform Kurumsal for passing on the Credit Suisse news courtesy of Reuters. I guess it only makes sense that Baran Securities became the top search term on Grandstanding Traction this week, with many visits by catalogued IPs from Credit Suisse. I should have known something was afoot. On a side note, I will be adding this post and updating my previous post, "Investment Banks Clamor Toward Turkey; Scoop Up Brokerages and Licenses." Congratulations to all!
Source: Credit Suisse Press Release - May 10th, 2007
Alternate Source: IMKB Listings of Members - Brokerage Houses
Technorati Tags: Credit Suisse, Baran Securities, Brokerage Houses, Trading Licenses, Deal Flow, Turkey, IMKB
Labels: Baran Securities, Brokerage Houses, Credit Suisse, deal flow, IMKB, Trading Licenses, Turkey