FCA-regulated Divisa UK Limited (Divisa Capital) today announced the acquisition of Laboratory of Financial Technologies CJSC (FinLab), a financial services provider incorporated in the Republic of Armenia.
The firm, renamed Divisa AM CJSC (“DAM”), will relaunch in the final quarter of 2015 as a wholly owned subsidiary of Divisa Capital. It will be offering wholesale API and MT4 prime-of-prime solutions for institutional and professional clients.
The strategic acquisition enables Divisa to make maximum use of Armenia’s geopolitical position – the country is a gateway to the Eurasian Economic Union (EAEU) and can be used as hub for servicing nearby Middle Eastern nations. The EAEU includes the Russian Federation and the Republics of Kazakhstan, Belarus, Kyrgyz and Armenia. Latest figures show the EAEU’s annual gross domestic product totaled USD 2.2 trillion.
“Armenia has a very strong and highly regulated banking system, which includes the likes of HSBC and Credit Agricole, enabling the country to come through the recent global financial crises unscathed,” says Divisa Capital CEO, Mushegh Tovmasyan.
“What has really been an eye-opener is the level of interest shown by big names in the Eurasian Economic Union markets wishing to utilize our expertise and depth of liquidity deriving from our prime-of-prime offering.”
DAM has retained industry veteran, Artak Nahapetyan, as its CEO. A number of key hires from local banks have also been made at the company.