Exotix: First African office opens in Lagos

Exotix, the London-based investment bank boosting its African equities team, had opened its first office on the continent in Lagos and said it was considering expanding to East Africa to meet client demand. “There is a big window of opportunity and we are keen to build local skills and hire Nigerians,” Ali Khalpey, the head of African equities, said on Friday. “Our focus is now moving towards East Africa where we’ve had a number of approaches. The key is finding the right partner.” Exotix covered 56 African stocks and planned to boost that to 100 by the end of the year, Khalpey said. While Exotix was still waiting for licence approval in Nigeria, it also planned to offer local currency and fixed income trading there, he said. – Bloomberg