Staff Takeover

Local money broking fraternity saw some activity this week with an established firm opting for a joint partner, while another opened shop to expand its financial reach.
Bartleet Mecklai & Roy Ltd grabbed headlines this week, when the firm sold a minority interest to a few ex-staff led by Senaka Udugama and David Benedict.rn

rnBartleets Chief Eraj Wijesinghe told Lanka Business Online that the new partners would infuse a lot of expertise to the existing operation.rn

rnThe money broking operation is currently being revamped to accommodate the changes with a few new products and services being lined up.rn

rnCapital Alliance Holdings also made waves, when it launched its own money broking unit endash Capital Alliance Money Brokers endash to offer a wider choice of financial products to its customers.rn

rnPresently, Capital Alliance has a primary dealer licence and is also a member of the Colombo Stock Exchanges debt trading system endash DEX. The group also offers corporate finance services.rn

rnCapital Alliance CEO Ajith Fernando is confident of scaling up operations, despite the current political uncertainty.rn

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-LBO Newsdesk: LBOEmail@vanguardlanka.comrn