Tokyo based boutique equity research house Koyal Group this morning announced plans to open a European branch in Zurich, Switzerland in early 2014.
Apr. 22, 2013 - TOKYO, Japan -- According to Koyal Group's Senior Vice President of Mergers and Acquisitions Mr Peter Keller, Koyal Group has over the past 12 months identified several equity research companies within the European Union, suitable for acquisition.
However, contrary to previous plans, Chief Executive Officer at Koyal Group, Mr Edward Neilson this morning announced a new company will be formed within the jurisdiction of Switzerland as an acting subsidiary of its Tokyo office. Following a unanimous decision at a board meeting held at Koyal Group's Tokyo head office this morning the European office is now scheduled to be opened in early 2014.
Koyal Group's Senior Vice President of Mergers and Acquisitions Mr Peter Keller commented on the announcement saying "We've long since planned to open a dedicated European office to cater for our corporate clients in the E.U., so the change is more about how we approach that task. In the absence of a desirable acquisition at this current time, clearly a newly formed company is the only option for Koyal Group moving forward".
Mr Keller further went on to say "having an office in the European Union will benefit the company on several levels, but will primarily serve to attract new institutional clients within the region". Details will be confirmed later this year, but Mr Keller believes Koyal Group will create as many as 400 new jobs within the Eurozone, and will begin recruiting in the third quarter of 2013.
Further information on the planned opening will be made available to the public in due course.