Richard Pieris’ launches stock broking operations

Richard Pieris Securities Ltd. a wholly owned subsidiary company of Richard Pieris & Co. Plc had its public launch of its stock broking operation at the Oak Room, Cinnamon Grand Hotel last week.

The Chairman of Richard Pieris & Company Plc Dr. Sena Yaddehige presented the research document to Ajith Nivard Cabraal, Governor, Central Bank, Nihal Fonseka, Chairman Colombo Stock Exchange and Malik Cader Director General Securities & Exchange Commission, Guido Brassler Managing director Credit Suisse. The stock broking company’s modern head office was opened at Hyde Park Corner earlier with a traditional ceremony. This office has ample room for parking and a large trading gallery for retail investors to monitor market movements and execute trades. The Company which has embraced modern technology will also provide online trading to its clients from inception. Richard Pieris’ was conferred the trading licence by the Colombo Stock Exchange and the Securities & Exchange Commission recently which signalled its entry into the financial services industry.

Chairman Dr. Sena Yaddehige, addressing the gathering stated “Stock broking has gained impetus not only in Colombo but also throughout the island. Arpico with its network of branches and Mega Supermarkets is in a unique position to service this sector, and plan to open many offices within the next two years.”

“We will take advantage of our company’s infrastructure and facilities throughout the country to tap new sources of capital and contribute towards the broad basing and development of capital markets in Sri Lanka. He further stated that the company has attracted an experienced team of professionals with over 100 years of combined industry exposure in trading, research, corporate finance and capital market development. No doubt the solid corporate identity and stability of Richard Pieris and the Arpico brand will help foster the business. We intend being a dominant player in the financial services market domain”, Dr. Yaddehige added.

Jayantha Perera with over 20 years experience in broking, research and capital markets in international and local firms will lead the company as Director/CEO.

 Reshan Kurukulasuriya with over 17 years experience in trading will be the Chief Operating Officer and Balagobi and Dilruk Fernando veterans in the industry have also joined the team as Sales Directors. Additionally, experienced research and compliance managers and other senior investment advisors have been attracted.