Mefcom Capital signs pact with London merchant bank

September 8th, 2011 - 8:06 pm ICT by IANS  

New Delhi, Sep 8 (IANS) Brokerage and investment banking firm Mefcom Capital Markets Ltd Thursday said it has signed an agreement with London-based merchant bank Beaufort International Associates Ltd to share resources and introduce potential clients keen for joint venture partners in India, UK and Europe.

The companies will offer brand franchising and international licensing transactions, cross-border corporate advisory and due diligence work and stock broking services for foreign institutional investors, domestic institutions, high net worth individuals and corporate houses.

“This strategic tie-up between Mefcom and Beaufort shall bring their services at the doorstep of the clients, offering them local expertise at competitive pricing,” said Vijay Mehta, chairman and chief executive officer, Mefcom Group.

“Together, the alliance brings a vast experience in value-added cross-border financial-services to all those who are looking to derive the benefits of global best practices,” he added.

According to Tanvier Malik, chief executive officer of Beaufort International said that the company’s alliance with Mefcom is very timely since India has a stable economy, with booming foreign exchange reserves and high growth in its manufacturing and services sectors.

“The policy makers in India continue to be inclined to push reforms in the financial sector. Recent announcement by ministry of finance to allow foreign individuals to invest upto $10 billion in the domestic mutual fund industry is another step in this direction,” he said.

The alliance plans to open offices in Mumbai, Kolkata and South India in due course so as to service clients on a pan-India basis providing them access to markets in India, the Middle-East, UK and Europe.

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