JAPANESE investment bank Daiwa Securities Group, Inc. has acquired a 14-percent stake in Philippine brokerage firm COL Financial Group, Inc., the listed online brokerage said on Friday.
“Daiwa’s investment in COL gives Daiwa the opportunity to participate in the Philippines’ fast-growing retail segment and young wealth builders, which are amongst the major beneficiaries of the country’s strong economic prospects,” COL Financial said in a disclosure to the Philippine Stock Exchange (PSE).
Daiwa is one of the leading and comprehensive financial services firms in Japan, next to Nomura Securities, offering a complete spectrum of financial products, with core business segments in retail, wholesale and asset management.
COL Financial, on the other hand, is the country’s largest online stock brokerage in terms of volume transaction.
It currently handles over 200,000 registered online trading accounts, providing access to stock and mutual fund
investments and advisory services.