About a year after Mushegh Tovmasyan relinquished his Director position at Divisa UK, which is part of Equiti Group as Equiti UK, he is now parting ways with the firm. At the time, the founder of Divisa stayed as a member of the executive committee of Equiti Group.
As of the end of last year, Equiti Group officially completed the rebranding of its UK entity. The firm is now fully focused on its global growth strategy and with the end of the transition period, Tovmasyan has fulfilled his commitment to the Group.
He officially relinquished his final role at Equiti Group at the end of 2018 to pursue investments and other business interests.
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Commenting on the development, Equiti Group’s CEO Iskandar Najjar confirmed that the move was mutually agreed since the 2017 acquisition. “Mushegh’s contribution to the group has been invaluable. I would like to thank him for all his sincere efforts over the past couple of years and wish him the best of luck in the projects he is about to pursue,” said Najjar.
Equiti is continuing to invest in diversifying its business globally with expansion in the Middle East, North America, Europe, Africa, and the APAC regions. In the run-up to the new regulatory framework in the EU, the company managed to post significant growth in fiscal 2018.
The firm reported a turnover of almost £18 million for the year that ended in March 2018. The firm diversification efforts of the company are putting it on a solid footing going into 2019. The company acquired the first operating license in Kenya back in April last year.
Commenting on his time with Equiti, Tovmasyan said: “I am thrilled that the Group made giant strides in record time and, more so, that I got to be part of it before the time came for us to part ways. I truly wish everyone at Equiti Group continued success.”