BNP Paribas on Thursday said it had completed the acquisition of retail brokerage firm Sharekhan.
After the first announcement in July 2015, the transaction has now been finalised after approvals from all relevant regulatory authorities, the company said.
The brokerage firm now becomes a subsidiary of BNP Paribas.
"With the completion of this acquisition, we are pleased to welcome colleagues and clients of Sharekhan into our group. We will work towards making Sharekhan the preferred savings and investment partner for individual customers in India," said BNP Paribas' Global Head of Personal Investors Beatrice Cossa Dumurgier.
With the retirement of retail brokerage firm's CEO and Director Tarun Shah, Director Jaideep Arora -- working at Sharekhan since its founding in 2000 -- has been appointed the CEO with immediate effect.
--IANS
bdc/tsb/bg
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