Equiti Capital UK Limited, the UK arm of financial services provider Equiti Group, announced today that it has received a $10 million capital injection from the parent company, Equiti Group Limited.
The official announcement shared with Finance Magnates states that the Group is planning to support a number of strategic business initiatives of Equiti UK through the latest capital injection.
Equiti Capital recently hired Paul Webb, an industry veteran with nearly two decades of experience in international financial markets, as its Chief Operating Officer (COO).
“The USD$10 million increase in share capital will strengthen Equiti UK’s balance sheet and support a number of strategic business expansion initiatives underway. There will be no change in control as a result of the new share issue, as this is a direct subscription from Equiti Group Limited, the parent company which wholly owns Equiti Capital UK,” Equiti mentioned in the announcement.
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Equiti’s Growth and Expansion Plans
In an exclusive discussion with Finance Magnates, Iskandar Najjar, CEO of Equiti Group, highlighted the Group’s significant growth in H1 of 2021 and outlined the future plans regarding the expansion of Equiti’s product offering. “We are planning to support the brokerage side of the business. We saw significant growth in Asia and Europe. As a Group, we want to prepare ourselves for the multi-asset solutions that we are planning to initially roll out in Q1 2022,” Najjar mentioned.
Commenting on the expectations regarding H2 of 2021 and full year 2022, the CEO of Equiti Group, said: “We had a strong year (2021). New hires including Paul Webb joined the Group. Some more hires are to be added to the team in Q3 of this year. We are significantly ramping up on our client experience and platform offerings. We do believe that 2022 will be a very strong year for the Equiti Group on the global level. We are looking for multiple licenses with focus on multiple jurisdictions.”
“We have always come with an approach of 30% localized, 70% globalized. We are very much focused on the one-stop-shop for all financial requirements and all financial solutions for our clients,” he concluded.