Sova Capital is controlled by Russian billionaire Roman Avdeev, and has significant exposure to assets in Russia.
As an individual clearing member of Moscow Exchange, Sova Capital is providing access to trading in equities and currency pairs to Indian investors.
Sova’s clients are often highly complex legal entities that require complicated, multifaceted onboarding and KYC processes.
Fraser Smith spent the last 12 years at HSBC, most recently as Global CFO for their Securities Services division.
The article that the central bank overreacted by calling for banks to stop selling certain “complex investment products” to retail customers.
The acquisition of an Austrian credit institution will give Sova Capital a direct presence in the European Union.