News & insights
Thankful to the Qatar Financial Centre (QFC) Authority for the opportunity to participate in a lively discussion during the 4th Islamic Financial Services Board (IFSB) Conference themed 'Innovations for Sustainability and Regulation of Financial Services' in Qatar this week. Our CEO Mohammed Alsehli shared lessons learned from our engagements with regulators and other stakeholders across the GCC, our efforts to connect the private markets in the region, and the plan for Qatar as the next jurisdiction for our ecosystem.
Doha Islamic Financial Services Board Conference
We are expanding. Announcing today the launch of Wethaq Securities out of the Abu Dhabi Global Market (ADGM) under the supervision of the Financial Services Regulatory Authority (FSRA). Wethaq Securities is offering brokerage services, starting with fixed income products, to emerging markets desks across GCC, Europe and Asia. Our counterparties will include major market makers, investment banks, hedge funds, asset managers, proprietary trading desks, pension funds, insurance companies, and sovereign wealth funds. Wethaq Securities is part of the Wethaq Group catering to the needs of the GCC markets across primary issuance, custody, securities services, brokerage and fintech. GCC Private Markets, Made Global.
EMRGO Group expands to ADGM
A well-regarded professional, he has 30+ years of work experience in market infrastructure and post-trade, including with Nasdaq Technology and Exchanges where he was responsible for accounts, prospects and high-level relationships across emerging markets (GCC, Central and Southeast Asia, Africa and Latin America). His board experience includes Nasdaq OMX Armenia, Lithuanian CSD and Stock Exchange, and Latvian CSD. Henri also served as Advisor to the CEO and Head of Business Development at Abu Dhabi Securities Exchange (ADX). Henri will contribute with his valuable experience to our development of world-class market infrastructure solutions for the emerging markets.
Henri Bergstrom joins as Board Advisor
Having held senior positions at Deutsche Bank, Northern Trust Corporation, and J.P. Morgan in the Middle East and Asia over 30+ years, he is well known in the industry for his client-centric approach and deep understanding of securities services (agency, custody, securities lending, connectivity to ICSDs). Under his management, Wethaq DIFC will provide, out of DIFC, fairly priced and efficient services to private banks, asset managers, brokers, funds, family offices and other investment professionals across the emerging markets.
Proud to have our CEO Mohammed Alsehli joining the Saudi delegation to Switzerland led by the Saudi Minister of Finance H.E. Mohammed Al-Jadaan this week for bilateral discussions with their Swiss counterparts about cooperation in finance and capital markets. This is another step towards the transformation of the capital markets of the Kingdom of Saudi Arabia in line with Vision 2030. We, at Wethaq, remain committed to the cause and aspire to contribute with our own capital markets and fintech expertise.
Saudi Delegation in Switzerland
Honored to have had Mohammed Alsehli representing Wethaq Group in a summit organised by the Saudi Ministry of Investment and H.E. Khalid Al Falih for leading Saudi and French companies in Jeddah earlier this week as French President Emmanuel Macron met with Crown Prince Mohammed bin Salman. We had the opportunity to discuss our contribution to the modernisation of the private capital markets of Saudi Arabia and partnership opportunities with leading financial institutions from France and Saudi Arabia in pursuit of #Vision2030.
Bernard is a prominent figure in the global capital markets with 30+ years of experience in senior roles at systemic market and payment infrastructures; and particular experience in local currency bond markets, custody, collateral management and lending programs. Bernard will be providing his expert advice to the Board on our comprehensive fintech offering across primary issuance and securities services (issuer/custody) locally and internationally out of the Dubai International Financial Centre.
We are pleased to welcome Lee Adams to the senior management of EMRGO Group as Head of Product (Custody & Securities Services). Lee has 25+ years of technology, product and business domain experience having worked across the front, middle and back offices for leading global custodians (J.P. Morgan and Citibank) and various Fintechs. He has extensive experience in product management, product development and client account management gained within the securities industry. Lee is joining a growing team developing custody and securities services for private banks, asset managers, family offices, and broker-dealers in the Emerging Markets.
Nagy has 20+ years of experience in the capital markets of GCC across investment operations, securities services, asset management and treasury in various roles held with global banks (Deutsche Bank, HSBC), regional banks as well as a sovereign wealth fund. Nagy will be providing his expert advice on the development of our fintech platform for the primary issuance, securities services, post-trade services and connectivity to International Central Securities Depositories (ICSDs) out of Wethaq DIFC.
Having started from the open outcry pits of Matif in Paris and over a period of 30+ years, Olivier has established and/or moved, merged, spun off, managed operations for 7 exchanges in 6 different countries on 4 continents (including Astana International Exchange, Qatar Stock Exchange, Boston Options Exchange, Australian Derivatives Exchange and Euronext Paris). Olivier will be providing his expert advice to the Board, Chief Product Officer Dmitry Maslovsky and Chief Technology Officer Rainer Gellert on the development of our infrastructure (primary issuance, custody/securities services, and trading facilitation) for the private markets of #SaudiArabia, #UnitedArabEmirates and, in due course, the broader GCC.