We use cookies to optimise the user experience.
Absa receives US regulatory approvals to open representative office in New York.
Absa Bank Limited has received regulatory approval from both the United States Federal Reserve Board and New York State Department of Financial Services (NYSDFS), the New York State regulator, to open a representative office in New York.
The office is expected to be operational by the end of the year.
Charles Russon, Chief Executive of Absa Corporate and Investment Banking (CIB), notes that the opening of the Absa Bank Limited representative office is critical to the CIB strategy to be closer to its corporate and institutional clients who invest in Africa.
“This is a significant milestone in our growth strategy. Our representative office in New York will enable us to be a globally scalable business by bolstering relationships and driving more connectivity with our global clients through Absa Bank’s independent presence in the US following our separation from Barclays,” Russon says.
James Gregory, Chief Representative for Absa Bank Limited New York, adds: “Through this office, we will be able to directly market our banking services and products to corporate and institutional clients at their HQ decision-making locations. We are particularly pleased, as this is progress in our journey to become a leading pan-African CIB franchise with strong international expertise and connectivity.”
Absa has already opened a representative office in London, and will explore other locations for representative offices where the client franchise determines a need.
“Absa wants to be a key enabler of Africa’s success through these representative offices and through this and other initiatives such as the strategic MOU we announced early this year with Société Generale, we are able to support our clients’ ambitions.” Russon says.
This article was originally published here
TRADE INSIGHTS
The African Continental Free Trade Area (AfCFTA) has been touted as the supercharger of Africa's long-term economic success. Here, Bohani Hlungwane, Group Head of Sales, Trade and Working Capital at Absa, looks at how far we have come and what needs to be done. vvvvvvvv
MINING INSIGHTS
The Paris Agreement forces companies and lenders to be responsible and to consider the climate in their operations.
Many countries on the Continent are increasingly providing investors with the stability and regulatory certainty they seek.
Natural Resources Insights
Africa remains an attractive market for international capital for oil projects and investments.
Cash Management
Trade Finance and Working Capital
Investor Services
International Banking
Digital Channels
Financing
Capital Markets
Advisory Service
Personal Banking
Business Banking
Private Banking
Wealth and Investment Management
Stockbrokers and Portfolio Management
Global Markets
Absa International
Sector Expertise
Exchange rates and Indices
Research Reports
Insights and Events
Graduate Opportunities
Deals
Awards
Media and News
Legal and Compliance
Terms of Use
Banking Regulations
Privacy Statement
Contact Us
Switch to Absa
Debit Order Switching
Send Your Feedback
011 501 5050
or
0800 11 11 55
Terms Of Use | Banking Regulations | Policy Statement | Security Centre | Copyright. Absa Bank Limited, Registration number 1986/004794/06. All rights reserved | Authorised Financial Services Provider and a registered credit provider (NCRCP7)
