An agreement has been signed today between Piraeus Bank S.A., shareholder of Sigma Securities Company and the shareholders of N.D.Devletoglou Securities Company regarding the merger of the two companies. The merger procedure is expected to be completed by the end of 2004, after the necessary approvals of the supervisory authorities.
As of 2003, Sigma Securities held a 6.8% market share while N.D.Devletoglou Securities a 2.3% market share. With the two companies merged into one securities company under the name ‘Sigma – Devletoglou Securities Company’, the clientele base is broadened, the market share is enhanced and economies of scale are accomplished.
Mr. Alexandros Devletoglou will assume the position of Managing Director of the new company and Mrs. Vassiliki Campbell will be Chairman of the Board (as a non-executive member).