Richard Pieris’ launches Stock Broking operations

Richard Pieris Securities (Pvt) Ltd., a wholly owned subsidiary Company of Richard Pieris & Co PLC launched its stock broking operations on 6th January 2011.

The stock broking company’s modern head office was opened at Hyde Park Corner with a traditional ceremony to coincide with the launch.This office has ample room for parking and a large trading gallery for retail investors to monitor market movements and execute trades. The Company which has embraced modern technology will also provide online trading to its clients from inception.

Richard Pieris’ was conferred the trading licence by the Colombo Stock Exchange and the Securities & Exchange Commission recently which signaled its entry into the financial services industry. Pravir Samarasinghe Group Director/Chief Operating Officer explained “our initial entry into securities trading will be followed shortly with other fee and fund based financial services’ initiatives. We have also applied to the CSE for a margin trading licence to enable the provision of competitive credit to our clients and further foster  capital markets; and we are hopeful this product offering will be made available by end January.”

He further explained the company has attracted an experienced team of professionals with over 100 years of combined industry exposure in trading, research, corporate finance and capital market development. In addition to the vast expertise brought to the table, the company intends differentiating itself through high quality relevant research and aggressive expansion of regional presence. No doubt the solid corporate identity and stability of Richard Pieris and the Arpico brand will help foster the business. We intend being a dominant player in the financial services market domain Samarasinghe added.

Mr. Jayantha Perera with over 20 years experience in broking, research and capital markets in international and local firms will lead the company as Director/CEO. Reshan Kurukulasuriya with over 17 years experience in trading will be the COO and Balagobi and Dilruk Fernando veterans in the industry have also joined the team as Sales Directors. Additionally, experienced research and compliance managers and othersenior investment advisors have been attracted.

A company spokesman said the first branch office will be opened in Wattala in the near future.  “We will take advantage of our parent company’s infrastructure and facilities throughout the country to tap new sources of capital and contribute towards the broad basing and development of capital markets in Sri Lanka.”

Photo caption:  Mr. Pravir Samarasinghe Group Director / Chief Operating Officer of Richard Pieris & Company PLC ceremonially opens the Stock Broking office complex accompanied by Mr. Paul Ratnayeke Group Director of Richard Peiris & Company PLC together with Mr. Jayantha Perera Chief Executive Officer and Mr. Reshan Kurukulasuriya Chief Operating Officer of Richard Pieris Securities Pvt Ltd.