Cyprus-registered IronFX has changed its name, the official registrar shows. The broker’s name has been amended to Notesco Financial Services after it signed a deal under the terms of which it received a significant investment from a new investor from the Middle East, Gemini Financial Services.
As part of the deal, the new investor now has one seat on the board of directors of the newly-named company. Mr. Puneet Kamra has joined the firm to represent the interests of Gemini Financial Services. The $100 million investment which the firm publicised earlier this year is related to a member of the Al Saud family.
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A company spokesperson confirmed to Finance Magnates that the changes are part of the ongoing transformation of the brokerage after the investment from Gemini. What’s notable about the investor is that the board of the company includes H.H. Prince Mishaal bin Abdullah bin Turki bin Abdulaziz Al-Saud.
The new board member serves as a managing director of Gemini FS. Kamra specializes in transaction execution at the company. His CV includes previous roles at KPMG, Fidelity Investments and Deloitte.
The firm retains the brand names that it has been working with. Those include IronFX and FXGiants, with the brokerage business of the firm spread across its Cyprus, UK and Australian subsidiaries.