According to Frank Media, the Freedom Finance investing company is going to relocate its PR department from Russia to Kazakhstan. Also, some top executives of the Russian company shall move to Freedom Finance Global in Kazakhstan.
It is expected that all these employees will continue to work with their Russian clients, more specifically to provide them with consultation services. Some, however, are going to stay in Russia.
The company is going to offer its Russian clients the ability to open new accounts in Freedom Finance Global. Some of them have already received such notifications. Frank Media was told by a source familiar with the matter that those who want to trade foreign stocks through Freedom must move to Global or change brokerage companies.
In June, Timur Turlov, CEO of Freedom Holding told Reuters that he can’t see any chance to keep the Russian business within the American holding as the U.S. government has banned American residents from any investment in Russia. The holding is planning to rename its Russian division and sell it to local top managers.
Freedom Holding Corp. is a provider of retail financial brokerage, investment consulting, securities trading, investment banking and underwriting services via its Freedom Finance subsidiaries. The company is a professional participant of the Kazakhstan Stock Exchange (KASE), Astana International Exchange (AIX), Moscow Exchange (MOEX), Saint Petersburg Stock Exchange (SPB), Republican Stock Exchange Toshkent and Ukrainian Exchange. The holding headquarter is located in Almaty, Kazakhstan; its administrative offices are in Russia and the U.S. The company also runs representative offices in Ukraine, Uzbekistan, Cyprus, Germany, Azerbaijan and the U.K. Currently, the holding’s common shares have been traded on NASDAQ, KASE, SPB Exchange and Ukrainian Exchange.