Newedge has opened a fully operational office in the Dubai International Financial Centre, The Gate Village, Building GV01, and has 15 staff members, including sales people specialising in financial futures and options, fixed income/over-the-counter (OTC) interest rates, foreign exchange, regional and international equities, and OTC equity and index derivatives, along with compliance and middle office representatives.
Newedge is the 50/50 joint venture between Societйe Generale and Calyon, formed in January 2008 through the combination of the brokerage activities of their former respective subsidiaries, Fimat and Calyon Financial. This office brings the number of Newedge locations to 27.
Paul Eid is the CEO of the Newedge Dubai office and Marco Saviozzi and Guillain Carpentier are managing directors/co-heads of sales. Eid reports to Nicolas Breteau, CEO of Newedge Europe & Middle East.
Newedge is a member of both the Dubai Mercantile Exchange and the Dubai Gold and Commodities Exchange.
“The team we have assembled provides Newedge with a significant competitive advantage which is already showing successful results. We have aggressive growth plans for expanding business throughout the Middle East, and the experience and depth we have in our Dubai group will be a critical component to that,” says Richard Ferina, deputy CEO of Newedge.
“Dubai has rapidly become the financial center of the Middle East and one of the key centers of commerce globally. Having a strong presence in this key market center will not only enable Newedge to extend its products and services to customers throughout the region, but will also expand the range of opportunities for current Newedge clients globally,” adds Nicolas Breteau, CEO, Newedge Europe and Middle East.