Erste Group and brokerage house Auerbach Grayson enlarge agreement of cooperation regarding CEE equity trading US institutional investors gain direct access to local, independent know-how on listed companies in Czech Republic, Hungary and Croatia Agreement supports efforts to create efficient platform for investors in the region Under the leadership of Jonathan Auerbach and David Grayson, Auerbach Grayson has become a successful global network over the past decades with local brokerages in 127 countries that are intensely used by all major institutional customers in the US.
Some 450 analysts cover 3,800 exchange-listed companies. Auerbach Grayson therefore offers nearly complete worldwide coverage and access to the most important institutional customers in the US. The new cooperation agreement with Auerbach Grayson covers research, trading and clearing services for equities trading in the countries of Austria, Czech Republic, Hungary and Croatia.
It was precisely in the US during the crisis where reservations against the region of Central and Eastern Europe were the greatest especially by rating agencies and Noble Laureates. Our cooperation agreement with Auerbach Grayson in the US highlights that this region is not at the end of its tether. Now, US investors have direct access to local, independent know-how on site, says Fritz Mostbck, head of group research at Erste Group.
Therefore, we have widened the scope of our successful, year-long cooperation with Auerbach Grayson on Austrian equities. The widening of business activities in the US matches the strateg y of Erste Group in Central and Eastern Europe ideally and is also in line with the efforts of the Vienna Stock Exchange to create an efficient platform for investors in this region, says Brigitte Zeitlberger, head of institutional equity sales at Erste Group.
The cooperation agreement will affect, among other things, the traditional joint road shows with the Vienna Stock Exchange in New York, which will now be expanded. Additionally, institutional US customers will also be offered individual road shows by exchange-listed companies from the region and research specialists for these markets.
D.C.