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Mohammed Ali Yasin, managing director, Shuaa Securities.

Abu Dhabi-based Shuaa Capital last week created the GCC's largest equities brokerage. Andrew White meets Shuaa Securities MD Mohammed Ali Yasin.

Last week, Abu Dhabi-based financial services institution Shuaa Capital announced it had taken a strategic 20% stake in brokerage and technology services company Orion Holding Overseas. The US$52.5m deal includes the acquisition of controlling stakes in five regional brokers - creating the GCC's largest equities brokerage.

"Today clients and investors demand seamless access to multiple markets to allow them to jump to where the best opportunities are," Mohammed Ali Yasin, managing director, Shuaa Securities, tells Arabian Business. "We need to be able to provide that service to our clients, so we can give them direct access to those markets.

Orion, a Dubai-based financial services firm with over 300 employees, specialises in a range of activities with a particular strength in multi-asset class prime brokerage and clearing.

Orion also has a significant presence in financial IT solutions. As part of the transaction, Shuaa Capital has agreed to take seats on Orion's board of directors, while Orion will also be represented on the board of Shuaa Securities, the brokerage arm of Shuaa Capital, which is currently under formation.

"We have been in this market since 1986 and over the past four years we've seen a lot of international banks and companies come into our market," explains Ali Yasin. "We wanted to branch out into other markets after really cementing our position the UAE market.

"We got into Saudi Arabia and we are now setting that up, but in terms of the brokerage business we found that Orion had a presence in five markets already," he continues. "By buying that share we took over the subsidiaries in those markets so now we're available across the GCC, and have a physical presence in those markets to be a really effective player.

"They are small subsidiaries in those markets so there's a lot of building to do, but I think that is part of the challenge that we took on.

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