Expobank statement on acquisition of FXCM Securities Limited from FXCM Inc., to further expand its global presence

AS Expobank has today issued a statement with regard to the completion of its acquisition of FXCM Securities Limited from FXCM Inc., a leading online provider of foreign exchange trading and related services.

FXCM Securities was previously known as ODL Securities. Rebranded as Walbrook Capital Markets, it will continue to operate as an FCA-regulated business from its current offices in The City of London.

AS Expobank is one of the oldest Latvian banks, with a branch in Cyprus and a representative office in Hong Kong. Entry into the UK reinforces the bank’s business model, characterised by a low appetite for credit risk. Its long-term strategy is one of diversifying its business, geography and client base while strengthening its provision of financial services for corporate and private clients across international markets.

Ilya Mitelman, Chairman of the Management Board of AS Expobank said:

“I am very excited by the acquisition of this established and well respected business. Following the FCA’s thorough review of AS Expobank, we now have a presence in the world’s biggest and most important financial centre. Walbrook Capital Markets aims to build upon the strong foundation that already exists here. Our focus is to be the broker of choice for clients who require a personal, expert service from an experienced City-based team.”

Photograph copyright Andrew Saks-McLeod