Hong Kong broker to lead Kazakhstan’s ATF Bank

April 17. Universal Newswires

Hong Kong broker to lead Kazakhstan's ATF BankHong Kong broker Tony Espina will serve as the newest chairman for the Kazakh lender ATF Bank, recently sold by Italy’s UniCredit for hundreds of millions of dollars.

Espina formerly served as chair of the Hong Kong Securities Association and owner of Hong Kong-based brokerage firm Goldride Securities, the South China Morning Post reported on Wednesday.

The broker intends to maintain his brokerage firm and build a bridge between Kazakh and Hong Kong financiers, he said.

“I plan to introduce ATF customers to Hong Kong and to inform Hong Kong businessmen of the increasing trading relationship between Kazakhstan and Hong Kong,” he told the news agency.

Italy’s UniCredit Bank, which formerly owned majority shares in the Kazakh bank, said last month it would sell the bank to a Kazakh businessman for approximately $500 million.

Both the Italian and Kazakh authorities approved the sale, and Espina will hold a small share in the bank once he assumes chairmanship.

UniCredit before the sale owned 99.7 percent of ATF Bank, Kazakhstan’s fifth largest lender, after expanding its majority stake in the Almaty-based financial institution in September 2011.