Stockpicker enters Latin America

Stockpicker enters Latin America Stockpicker has the pleasure to announce that it has conquered another great achievement and taken the first steps towards its foreign expansion. In this primary phase, focus is aimed at Latin America and in particular Brazil, where Stockpicker starts its first foreign subsidiary. Stockpicker chooses Brazil and its financial centre Sao Paolo as a base for its Latin American operations. Brazil is of great importance as a entry-market for further expansion in the area and has a forefront position in the new economy and extreme growth potential ahead of it. The subsidiary is named Stockpicker do Brasil Ltda and is set-up together with the Brazilian venture capital company Rosegarden Ltda, where Stockpicker AB Sweden will be majority owner in Stockpicker do Brasil Ltda. Rosegarden Ltda will handle the operative parts in Brazil. Together Stockpicker AB and Rosegarden Ltda will run the strategic issues. Stockpicker AB therefore shares its gathered knowledge and experience from the Swedish arena meanwhile Rosegarden adds knowledge and experience about the Brazilian market plus a strong local network. Together the two makes a very strong constellation for the future of Stockpicker Brazil. Behind Rosegarden stands a strong management team lead by Eduardo Kina, CEO of Rosegarden and also the coming CEO of Stockpicker do Brasil. Mr Kina has experience of 3 years as General Manager in Interprint, a branch of Bonnier's group in Brazil. Revenue in 1999 was about US$50 million (Brazil only). He also was responsible for a complete business unit heading 170 employees (BU revenue in 99 was US$15 million) including manufacturing, operation, R&D, HR, marketing and commercial development. Eduardo has also about 6 years behind him in New Business Development in ABB. The Stockpicker and Rosegarden joint venture in Brazil has also counted with experienced management advisors like for example Stefan Lundkvist, CEO of Gunnebo do Brasil Ltda. "The choice of Stockpicker AB as a partner in this joint venture was natural due to their unique product/services, their skilled management and the interesting projects in the pipe-line. Rosegarden itself is a venture capital company specialised in accelerating the projects in which it invests. Equipped with a highly experienced management team, Rosegarden always participates actively in the management of its investments. Financial services through the internet, fixed or wireless, is one of our focus areas, explains Eduardo Kina. "Brazil is geographically the largest South-American country and is home of 170 million habitants and is also the largest financial market in Latin-America. Considering the rapid growth of the volume of stock trading and other financial services on the Brazilian internet, the country offers excellent business opportunities for Stockpicker. Furthermore, Brazil is a natural base for further expansion throughout Latin-America." Eduardo continues. The Stockpicker focus on the Brazilian market is welcomed by the Swedish Chamber of Commerce in Brazil. "We are very positive towards Stockpicker's choice of expansion and believe that they can build a strong brand name in the IT and Internet niche here in Brazil. Stockpicker AB has a brand name that holds strong parallels to the new economy and its electronic financial services in Scandinavia. This sort of service I believe has the perfect timing to enter the Brazilian market at this very moment. Brazil is attracting growing numbers of companies and investors from both US and Europe" says Pontus Broddner, CEO at the Swedish Chamber of Commerce in Sao Paolo, Brazil. Stockpickers CEO Marcus William Ziegler explains the factors behind the decision to enter the Brazilian Market. "Brazil is a perfect base, not only for Latin-America but works also as guidance and model for future markets that we aim at entering and set up operations in. I must say that I am impressed by the competence and experience our Brazilian managers have. We have been extremely lucky to have found these entrepreneurs in a country on the other side of the world so far away from Sweden. We now set the mark for some fascinating years of foreign expansion for Stockpicker". "Stockpicker is at this very moment handling long gone dialogs with entrepreneurs in a handful of carefully picked foreign markets. Unlike the "dot.coms" that today receive harsh critics in media for their all to optimistic and wild foreign expansion plans that most of the times has no coverage from the organisations budget, Stockpicker has chosen a different model involving more controlled expansion. The expansion model we follow is well planed, strategically built from scratch and most of all does not build on take-overs. All of the above minimises financial risk for the parent company" says Thomas Andersson, member of the Stockpicker AB board. Stockpicker is a financial consultancy company with a strong online presence. It covers the new economy's need for fast and objective analyses with high credibility that quickly adapts to the actual sentiment. The Company produces financial solutions for both companies and private investors. Stockpicker operates in many areas. The stock letter 'Stockpicker Newsletter' (started 1997), the unique stock letter 'Stockpicker Global Outlook' (covering the world stock markets) and the daily free newsletter 'Stockpicker Market Update' are three of Scandinavia's leading products in its area. In addition to that, Stockpicker offers a Consulting Group and a Millennium Group. The Companies head office is situated in central Stockholm, Sweden; it has 16 employees and is one of Sweden's fastest growing companies in financial services. The company is not floated. For more information please contact: William Marcus Ziegler Eduardo Kina CEO, Stockpicker AB CEO, Stockpicker do Brasil Ltda Phone: +46-8-6620669 Phone: +55-11-55064863 E-mail: E-mail: ------------------------------------------------------------ This information was brought to you by BIT The following files are available for download: