Galt & Taggart Securities Renamed BG Capital

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21 Sep, 2009
Galt & Taggart Securities Renamed BG Capital

The FINANCIAL — In the next three years BG Capital, formerly Galt & Taggart Securities, plans to become one of the top three Ukrainian investment banking players, and reinforce and expand leading positions in Georgia and Belarus, the company has declared. Recently the company changed its brand name, expanded its team of professionals, relocated to a new office in Ukraine, and announced that it plans to expand leading positions on CIS, ex-Russia, capital markets.

Striving towards that objective, BG Capital has adjusted its strategy, which now includes an emphasis on structural integration into commercial banking institutions that are part of Bank of Georgia.

Management strongly believes the company is attractively positioned at a time when the market has reached a bottom, and is fully prepared for active growth. An experienced team, access to over 300 international investors, the support of the extensive Bank of Georgia Group network, and the ability to trade on 180 global exchanges are all factors that will contribute to the coming success of BG Capital.

“The company changed its name to highlight the fact it is part of the powerful Bank of Georgia Group network. The name BG, an abbreviation of Bank of Georgia, is a clear and positive sign of that,” Goga Melikidze, Managing Director of BG Capital Georgia, says.

“We’ve reinvested over half a million US dollars of our own funds in company development over the last year, and we’re now prepared to demonstrate to the market what we are capable of. The superior quality of our new team will be clear from the first conversation through to final deal execution, and it will take BG Capital, supported by BG Bank’s private banking services, no time at all to become the best Ukrainian investment bank,” Nick Piazza, CEO of BG Capital says.

“One look at the individuals within our company and it’s safe to say we have assembled the finest and strongest team in all of Ukraine. Every one of the BG Capital professionals are recognized names in the investment community. Their reputation, that of individuals with significant experience and knowledge in forming long-term, solid relationships within the local business community – is extremely important to us as a public company,” Eugene Cherviachenko, Head of Business Development of BG Capital, mentions.

“Our professionals have amassed considerable experience during both bear and bull markets, and are prepared for the realities of today’s market, to create and provide incomparable products and services,” Cherviachenko says.

In Q2 2009 GTS completed rationalizing of its operations achieving closer integration of its teams in Georgia, Ukraine and Belarus.

According to Bank of Georgia’s financial report GTS’s Revenue for the quarter amounted to GEL 1.5 million and Net Income to GEL 0.8 million. GTS’s Revenue for 1H 2009 was GEL 2.8 million and Net Income was GEL 0.9 million.

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