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Markos Kashiouris: IronFX Enters into $100M Agreement with Middle East Investor

Markos Kashiouris: IronFX Enters into $100M Agreement with Middle East Investor

IronFX has changed the name of its registered company in Cyprus, to Notesco Financial Services, after the brokerage signed a deal for a significant investment into the company by its new investor from the Middle East, Gemini Financial Services.

Markos A. Kashiouris, CEO of IronFX Global Ltd, said, “IronFX has recently entered into a $100 million strategic agreement with a Middle East institutional investor  with a view to capital growth and industry acquisitions. This is an important development that is expected to give new momentum to the company, further strengthening its position in the market.”

The changes are part of the ongoing transformation of the brokerage after the investment from Gemini. What’s notable about the investor is that the board of the company includes H.H. Prince Mishaal bin Abdullah bin Turki bin Abdulaziz Al-Saud.

 “Within the framework of the agreement,” he added, “we have proceeded with some changes, mainly at procedural level. The name of the holding company is one of them. Nevertheless, the company will continue to operate with the same trade names, maintaining the Group’s brand names (e.g. ‘IronFX’), both in Cyprus and in the Group’s companies that operate abroad.”

 “Furthermore, it should be noted that the new investor will be joining the company’s Board of Directors,” said Kashiouris. “This investment is of decisive importance as it constitutes a vote of confidence in the company, on the one hand and in the long-term prospects of the Cyprus economy, on the other. This deal creates a new state of affairs and opens up new prospects with important benefits for the Cyprus economy”.

The new board member of the IronFX parent company serves as a Managing Director of Gemini FS. Puneet Kamra is specializing in transaction execution at the company with previous roles at KPMG, Fidelity Investments and Deloitte.

 

 

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