French broker CA Cheuvreux has announced the opening of a new Turkish subsidiary based in Istanbul.
In the coming months, CA Cheuvreux will build up a 15-strong team with expertise in the region, including five analysts, three sales people, one economist and two sales traders.
The team will be headed by Attila Kadikoy and Can Yurtcan, who will join the firm on 15 September to oversee research activity. Both previously held executive positions with Turkish brokers in Istanbul.
The firm’s research will cover the 60 stocks with the largest market capitalisations in Turkey. CA Cheuvreux is already a member of the Istanbul Stock Exchange and plans to introduce direct market access and algorithmic trading.
“After the launch of our Middle Eastern activities via our Dubai office and the recent opening of our Vienna branch, this new development fits with our strategy of accompanying our clients, who are increasingly turning their sights to emerging markets, which offer interesting investment opportunities,” said François Simon, CEO of CA Cheuvreux.