CA Cheuvreux, the broking group owned by French bank Credit Agricole, has announced a further expansion of its central and eastern European presence. A new branch will open in Vienna in the third quarter of 2008, dependent on local regulatory approvals, the broker said.
CA Cheuvreux is already a member of the Vienna stock exchange and offers direct market access, algorithmic trading, program trading and sales-trading services on the Czech, Hungarian and Polish stock exchanges.
The new branch will be managed by Eduard Berger and the research activity will be overseen by Alfred Reisenberger, both of whom previously held management positions within the equities department of Creditanstalt Investment Bank in Vienna.
The Vienna-based research team will cover Austrian, Polish, Czech and Hungarian stocks, initially focusing on large-cap stocks.