About us

Backgroundhttp://www.armenbrok.am/about-us/background

ARMENBROK OJSC is Armenia based leading investment company, providing its customers with full range of financial and investment services in the Armenian capital market, including: investment banking services (fundraising, IPO, private placements), brokerage and investments, legal and business consulting, international trading, corporate governance advisory, corporate restructuring, M&A, etc. Since its establishment in 1994, ARMENBROK has put its best efforts to open as many doors as possible to individual and institutional investors and companies so that it would be in their best interest to invest in securities of reputable Armenian companies.

Our Company was registered and licensed by the Central Bank Armenia as an investment company on November 4, 2008. Notwithstanding, we have a history spanning over 25 years, as the present legal and organizational status of ARMENBROK evolved through a number of corporate development stages presented below:

Corporate Event Year
Foundation of ARMBROK LLC 1994
ARMBROK LLC renaming into Armenian-Canadian joint enterprise LLC 1994
Armenian-Canadian joint enterprise LLC reorganization into ARMENBROK CJSC 1998
ARMENBROK CJSC reorganization into ARMENBROK OJSC 2008
Through merger of ARMENBROK OJSC and Master Capital LLC the new ARMENBROK OJSC was established 2008

ARMENBROK is a full member of Armenia Securities Exchange and the Securities Settlement System (has the status of the Account Operator and is a member of the regulated market settlement system).

Armenia Securities Exchange (until 2019, NASDAQ OMX Armenia) named ARMENBROK:
  • Best Exchange Member in Corporate Securities Market (for 2012-2014 and 2016), 
  • Best Exchange Member in Repo/Swap Transactions (2018),
  • Best Member in Unified System of Securities Registration and Settlement (for 2015-2018),
  • Best Account Operator-Registry Keeper of Depository System (for 2015-2018),
  • Best Account Operator-Custodian of Depository System in Corporate Securities Market (for 2014-2018),
  • Best Member of Stock Exchange Settlement System (as of 2017).

ARMENBROK also holds membership in the American Chamber of Commerce (AmCham) and Financial Markets Member Association (Finarm).

Address: #32/1 Tigran Mets ave.,Yerevan, Armenia

E-mail: armenbrok@armenbrok.com

Tel:+374 11 590 000

This page was last updated 11.09.2019 11:44
Mission and Valueshttp://www.armenbrok.am/about-us/mission-and-values

ARMENBROK sees its mission in providing high quality investment services of international standards to local and foreign customers and gaining the reputation of a reliable long term business partner. 

Our company gives high priority to its good name and reputation. One of the major strategic goals of the company is to make every effort to ensure that any investor wishing to make investment of any type in the Armenian financial market considers ARMENBROK as a reliable partner.

The company’s main objectives are:

  • Hold leading position in the market;
  • Provide full range of quality investment services;
  • Provide fully tailored services for each client;
  • Increase shareholders' wealth by growing the market value of the Company.
 
ARMENBROK brings ideas to your money and creative power to your ideas. The slogan of the company is "Money has no ideas - we have". Our in-depth knowledge of local markets, wide network of professionals in the field combined with a broad range of financial services, ensure first-class assistance to your investments, proving the validity of the company's corporate slogan.  
 
We do care for our customers and know the value of their money.

 

This page was last updated 06.11.2013 11:48
Organizationhttp://www.armenbrok.am/about-us/organization

ARMENBROK is not a part of any commercial group, holding, union, or any other entity that consolidate their financial reports on any basis.

ARMENBROK only has an office and operates in Yerevan. For the time being, the company has no branches or representative offices. 

Below is the company's organization structure: 

This page was last updated 04.11.2013 12:25
Teamhttp://www.armenbrok.am/about-us/team

Aram Kayfajyan

CEO

Qualifications summary

  • Dynamic contemporary leader able to bring about innovation and change.
  • Young, yet established investment professional with nearly a decade of executive level management experience.
  • Combines versatile industry knowledge with strong strategy capabilities.
  • Corporate executive governed by high ethical standards and strong sense of social responsibility.
  • Performance-oriented professional with a significant record of delivering tangible results.
  • Has inspiration and ability to make positive changes in the system and infrastructure.
  • Likes to lead teams to shared successes.
  • Excellent communicator, always available and willing to exchange ideas.
  • Deeply committed patriot working to contribute to the country’s economic growth.
  • Holds PhD in Economics.
  • Speaks Armenian, English, Russian.

Career

  • Chief Executive Officer of ARMENBROK since July 2004.
  • Between December 1999 and July 2004 worked at ARMENBROK in various roles (including Assistant CEO, Head of Internal Supervision, Head of Internal Audit).
  • In 2007-2008 was a Member of the Supervisory Boards of the Armenian Stock Exchange and the Central Depository of Armenia.
  • Starting with 2010 to present has been lecturing at the Russian-Armenian (Slavonic) State University.

Major accomplishments as ARMENBROK CEO

  • Led a company with minor activities and four employees (currently twenty) to become one of the largest and most profitable investment firms in Armenia.
  • Turned ARMENBROK into an open joint stock company with shareholders from 11 countries across the world.
  • Compared to 2004 ensured growth in shareholders’ equity 40 times.
  • Managed to increase company assets over 200 times over the level of 2004.
  • Executed the first national IPO of an Armenian company (shares currently listed on Armenia Securities Exchange).
  • Enhanced the range of services rendered by the company to include repo trades, registry keeping, custody and global trading.
  • Created an extensive network of contacts and institutional customers for the company.

Professional interests

  • finance & investment banking
  • economics
  • capital markets
  • investments
  • emerging markets
  • IPOs & private equity
  • business valuation
  • portfolio management
  • business networking
  • connections with the Armenian Diaspora

Personal information

Born in 1983 in Yerevan.

Services

  • Reception and transmission of recommendations for securities based operations from customers.
  • Operations with securities in the name of the customer or him/herself at the expense of the customer.
  • Operations with securities in his/her name and at his/her expense.
  • Best efforts and firm commitment underwriting of securities.
  • Custody services.

 

Hayk Manaselyan

Head of Internal Audit Department
WORK
  • 2010-2012, 2016 up to date - CEO, Business Kartughar Ltd. 
  • 2008 up to date - Head of Internal Audit department, ARMENBROK OJSC
  • 2013 - Assistant at the Chair of Banking and Insurance, ASUE
  • 2004-2008 - Head of Internal Regulations Department, ARMENBROK OJSC
  • 2006-2007 - Vice President of the Regulatory Commission, Armenian Stock
    Exchange
  • 2003-2004 - Head of Internal Audit Department, IT BrokDilTrust Ltd.
  • 2002-2003 - CEO, IT BrokDilTrust  Ltd.
EDUCATION
  • 1999-2004 - Department of Financial Accounting, Yerevan State Economic
    Institute

ADDITIONAL QUALIFICATIONS

  • Holds PhD degree in economics.
     
  • Holds CBA qualification to act as the head of internal audit department of investment company and foreign investment company branch.
     
  • Holds CBA qualification to act as the head or member of the Supervisory Service or other such body.
     
  • Participated in several conferences and professional training courses on International Financial Reporting Standards (IFRS) and internal audit, both in Armenia and abroad.

PERSONAL INFORMATION

  • Born in 1983.

Araksya Harutyunyan

Deputy CEO
WORK
  • 2015 up to date - Deputy CEO, ARMENBROK OJSC
  • 2010-2015 - Head of Trading Department, ARMENBROK OJSC
  • 2007-2010 - Economist-Analyst/Broker-Cashier, ARMENBROK OJSC
  • 2006-2007 - Economist-Analyst, ARMENBROK OJSC
EDUCATION
  • 2001-2006 - Environmental Economics of the General Economic Faculty,
    Yerevan State Economic Institute
ADDITIONAL QUALIFICATIONS
  • Holds CBA qualifications of a leader and a member of the executive body in
    investment companies and a branch of a foreign investment company,
    as well as a deputy executive director.

     
  • Participated in several professional training programs in Armenia and
    abroad held by various organizations including New York Institute of
    Finance and Austrian Institute of Economic Research.
SERVICES
  • Receives and communicates assignments regarding securities transactions from clients
  • Executes securities transactions on own behalf or on behalf of the client and at the expense of the client
  • Executes transactions with securities at own expense and own behalf
  • Provides services related to the organization of issuance and placement of securities
  • Manages depositing of securities

PERSONAL INFORMATION

  • Born in 1983.

Siranush Khlghatyan

Chief Accountant
WORK
  • 2008 up to date - Chief Accountant, ARMENBROK OJSC
  • 1999 up to date - Accountant or Chief Accountant, financial
    and non-financial organizations
EDUCATION
  • 1994-1999 - Financial Accounting, Yerevan State Economic Institute

ADDITIONAL QUALIFICATIONS

  • Holds CBA qualification to act as Chief Accountant, Deputy Chief
    Accountant of Investment Company and Foreign Investment Company
    Branch .

PERSONAL INFORMATION

  • Born in 1977.

Edgar Aghabekyan

Senior Dealer
WORK
  • 2019 up to date - member of Professional Council 014 in Economics, ASUE
  • 2019 up to date - Scientific Council member,  ASUE
  • 2018 up o date - Professor, ASUE
  • 2009 up to date - Chief Dealer, ARMENBROK OJSC
  • 2007 up to date - Assistant lecturer at the Securities Market department,
  • ASUE
  • 2009 - Financial Adviser, ARMENBROK OJSC
  • 2008 - Head of the Operations Department, Private Invest CJSC
  • 2007-2008 - Operations Department Senior Specialist, Private Invest CJSC
  • 2007 - Head of Securities Department, Private Invest CJSC
  • 2007 - Member of Disciplinary Committee, AMX
  • 2006-2007 - Head of Internal Audit Department, Private Invest CJSC
  • 2005-2006 - Securities Dealer, ArmEconomBank OJSC  
EDUCATION
  • 1999-2004 - Financial Accounting, Yerevan State Economic Institute
ADDITIONAL QUALIFICATIONS
  • Holds a PhD degree in Economics
     
  • Holds qualification from Union of Banks of Armenia to act as a dealer In or on behalf of an investment service provider.
SERVICES
  • Executes transactions with securities at own expense and on own behalf
  • Provides services related to the organization of issuance and placement of securities

PERSONAL INFORMATION

Born in 1982.

Lilit Khachatryan

Dealer

WORK

  • 2019 up to date - Dealer and Broker, ARMENBROK OJSC
  • 2018-2019 - September 2019 - Dealer, ARMENBROK OJSC
  • 2018 - Analyst, Federation of Euro-Asian Stock Exchanges

EDUCATION

  • 2004-2018 - Department of Finance, ASUE (BA)


ADDITIONAL QUALIFICATIONS

  • Holds certificates of Investment Services Providing Dealer and Broker from the Union of Banks of Armenia.
     
  • Holds certificates to provide a full range of services of an account operator
    and the Unified Securities Settlement System (DEPEND) and a member of
    the Regulated Market Accounting System provided by the Central Depository of Armenia OJSC.
     

SERVICES

  • Receives and communicates assignments regarding securities transactions from clients.
  • Executes securities transactions on own behalf or on behalf of the client and at the expense of the client.
  • Executes transactions with securities at own expense and own behalf.
  • Provides services related to the organization of issuance and placement of securities.

PERSONAL INFORMATION

  • Born in 1996.

Andranik Gzoghyan

Chief Investment Adviser

WORK

  • 2019 up to date - Chief Investment Adviser, ARMENBROK OJSC
  • 2018-2019 - Head of Research, ARMENBROK OJSC
  • 2015-2017 - Research Analyst, LINKS Analytics B.V.
  • 2014-2015 - Financial Analyst, Stork Investments Holding CJSC
  • 2012-2014 - Assistant Relationship Manager, Byblos Bank Armenia CJSC

EDUCATION

  • 2012-2014 - Professional MBA, AUA
  • 2010-2013 - Master of Economics, YSU
  • 2006-2010 - Bachelor of Economics, YSU
  • CFA charterholder since 2017

ADDITIONAL QUALIFICATIONS

  • Qualified financial analyst (CFA).

SERVICES

  • Providing advice on investing in securities.
  • repares and manages the dissemination of researches, financial analyses
    and other general investment proposals related to securities transactions.

PERSONAL INFORMATION

  • Born in 1989.

Hayk Adilkhanyan

Head of Research

WORK

  • 2019 up to date - Head of Research, ARMENBROK OJSC
  • 2016 up to date - Lecturer, YSU
  • 2018-2019 - Commercial Specialist, GRAND TOBACCO LLC

EDUCATION

  • 2015-2018 - PhD in Mathematical Economics, YSU
  • 2013-2016 - Science of Economics, Friedrich-Schliller University
    of Jena (MA), Germany
  • 2013-2015 - Science of Economics, YSU (MA)
  • 2009-2013 - Science of Economics, YSU (BA)

ADDITIONAL QUALIFICATIONS

  • Holds a PhD degree in Economics

SERVICES

  • Prepares and manages the dissemination of researches, financial analyses and other general investment proposals related to securities transactions.      

PERSONAL INFORMATION

  • Born in 1992.

Vardan Yesayan

Chief Counsel

Work

  • 2018 up to date - Gneral Counsel, ARMENBROK OJSC
  • 2016-2017 - Investment and Export Promotion Specialist, 
    DEVELOPMENT FOUNDATION OF ARMENIA
  • 2015-2016 - Lawyer, UCOM
  • 2014-2015 - Intern, MM LEGAL OUTSORSE and TK
    & PARTNERS COMPANIES

EDUCATION

  • 2016-2019 - PhD in National Academy of Science
  • 2014-2016 - Jurisprudence, (MA) AUA
  • 2010-2014 - Faculty of Arts and Humanities, University of Toronto (BA)
  • 2008-2010 - International Bachelor Program, Regent School

PERSONAL INFORMATION

  • Born in 1993.

Rouzanna Sarkissian

International Projects Manager
WORK
  • 2012 up to date- International Projects Manager, ARMENBROK
    OJSC
  • 2008-2010 - Head of Marketing and Communications, NASDAQ OMX
    Armenia stock exchange and the Central Depository
  • 2010-2011 - Advisor to CEO, International Business Center JV CJSC
  • 2006-2008 - USAID-funded projects
  • 2003-2006 - Communications and External Relations Officer, Armenian
    Stock Exchange
  • 1994-2003 - Various capacities in the Armenian banking sector
EDUCATION
  • 1991-1996 - Yerevan State Institute of Economics
ADDITIONAL QUALIFICATIONS
  • Holds PhD in Economics.
     
  • Taught classes at the French University in Armenia, Russian-Armenian (Slavonic) State University, as well as within various training courses held by banks and other organizations, courses and international workshops in Armenia and abroad.
SERVICES
  • Provides foreign customers and potential customers with information on the company's operations and services offered
  • Coordinates the company’s international projects and initiatives

PERSONAL INFORMATION

  • Born in 1974.
 

Elmira Ghalumyan

Head of Registry Department
WORK
  • 2013 up to date - Head of registry department, ARMENBROK OJSC
  • 2011-2013 - Custodian, ARMENBROK OJSC
EDUCATION
  • 2004-2010 - International Relations, YSU

ADDITIONAL QUALIFICATIONS

  • Holds qualification of Union of Banks of Armenia to act as Investment
    Services Providing Individual-Custodian.

     
  • Holds certificates to provide a full range of services of an account operator
    and the Unified Securities Settlement System (DEPEND) and a member of
    the Regulated Market Accounting System provided by the Central Depository of Armenia OJSC.
SERVICES 
  • Custody
  • Registry keeping

PERSONAL INFORMATION

  • Born in 1986.

 

Milena Ghayfajyan

Custodian

WORK

  • 2016 up to date - Custodian, ARMENBROK OJSC
  • 2013-2016 - Operations Department, Inecobank CJSC

EDUCATION

  • 2009-2015 - Department of Finance, Armenian State University of
    Economics

ADDITIONAL QUALIFICATIONS

  • Holds qualification of Union of Banks of Armenia to act as Investment
    Services Providing Individual-Custodian.
     
  • Holds certificates to provide a full range of services of an account
    operator and the Unified Securities Settlement System (DEPEND)
    and a member of the Regulated Market Accounting System provided
    by the Central Depository of Armenia OJSC.

SERVICES

  • Custody
  • Registry keeping.

PERSONAL INFORMATION

  • Born in 1983.

Edita Mnatsakanyan

Custodian

WORK

  • 2018 up to date - Custodian, Armenbrok 
  • 2018 - Accountant-cashier, Araratbank
  • 2017-2018 - Consumer crediting agent, Unibank OJSC

EDUCATION

  • 2013-2017 - Finance Department, ASUE (BA)
  • 2017-2019 - Finance Department, ASUE (MA)

ADDITIONAL QUALIFICATIONS

  • Holds qualification of Union of Banks of Armenia to act as Investment
    Services Providing Individual-Custodian.
     
  • Holds certificates to provide a full range of services of an account operator
    and the Unified Securities Settlement System (DEPEND) and a member of
    the Regulated Market Accounting System provided by the Central Depository of Armenia OJSC.

SERVICES

  • Custody
  • Registry keeping

PERSONAL INFORMATION

  • Born in 1996.

Nune Mkrtchyan

Accountant

WORK

  • 2018 up to date - Accountant, ARMENBROK OJSC
  • 2017-2018- Researcher, ARMENBROK OJSC
  • 2016-2017 - Supporting securities transactions group specialist, VTB
    Armenia Bank CJSC
  • 2015-2017 - Researcher, AMBERD research center

EDUCATION

  • 2016-2018 - Department of Finance, ASUE (MA)
  • 2012-2016 - Department of Finance, ASUE (BA)

ADDITIONAL QUALIFICATIONS

  • Holds qualification of Union of Banks of Armenia to act as Investment
    Services Providing Individual-Custodian.
     
  • Holds qualification of Union of Banks of Armenia to act as the Head of Investment
    Fund Custodian or Employee.

PERSONAL INFORMATION

Born in 1995.

Tamara Gyozalyan

Executive Associate
WORK
  • 2019 up to date - Executive Associate, ARMENBROK OJSC
  • 2019 - Administrative Agent, Management Mix
EDUCATION
  • 2015-2019 - Finance faculty: Securities market management and analysis,
    ASUE (BA) 
  • 02/2018-07/2018 - Economics and public administration, Stefan cel Mare
    University of Suceava, Romania

PERSONAL INFORMATION

  • Born in 1997.

Samvel Darbinyan

Technical Office Supporter
WORK
  • 2010 up to date - Technical Office Supporter, ARMENBROK OJSC
  • 2008-2010 - Security officer, Armobile
EDUCATION
  • 2010 - Yerevan State Industrial Collage
  • 2005 - Security Service College

PERSONAL INFORMATION

  • Born in 1987.

Elen Ghazaryan

Dealer
WORK
  • 2017-present - Dealer, ARMENBROK OJSC
  • 2012-2017 - Custodian, ARMENBROK OJSC
  • 2012 - Analyst, ARMENBROK OJSC
EDUCATION
  • 2013 - Master's degree, Yerevan State Economic Institute
  • 2007-2011 - Department of Finance, Yerevan State Economic Institute

PERSONAL INFORMATION

  • Born in 1991.
This page was last updated 06.06.2013 18:08
Statutory documentshttp://www.armenbrok.am/about-us/statutory-documents

This page contains scanned copies of the statutory documents of ARMENBROK OJSC. The documents are available in Armenian language only.

This page was last updated 02.11.2018 13:56
Ownershiphttp://www.armenbrok.am/about-us/ownership

The significant shareholders that have direct participation in authorized capital of ARMENBROK OJSC are:

Full name/Company name Type of activity Participation
Aram Kayfajyan    43.39%
GERMAN CAUCASIAN TRADING LTD Commercial  27.30%
Ashot Chagharyan    10.11%

Subsidiary company of ARMENBROK OJSC  is Capital Investments CJSC.

This page was last updated 23.09.2019 12:38
Acquisitionshttp://www.armenbrok.am/about-us/acquisitions

On 13 June 2019, Armenbrok investment open joint stock company and Capital Investments closed joint stock company successfully completed the share purchase deal, as result of which Armenbrok has become the sole owner of Capital Investments. In the meantime, Capital Asset Management cjsc, a company associated with Capital Investments cjsc, was not in any way involved in the deal and will continue its activities as a separate legal entity.

Capital Investments cjsc operated in the Armenian capital market since 2006, based on the license granted by the Central Bank of Armenia. Thanks to effective management the company managed to achieve remarkable results and stand among leaders in the market. As stated by the management of the both companies, the share transfer deal was considered mutually beneficial in light of the current state of competition and future activity prospects.

According to Armenbrok CEO Aram Kayfajyan, the strategy and business of Capital Investments cjsc will be fully integrated into Armenbrok’s activities. In Mr. Kayfajyan’s words, Armenbrok feels honored and committed to cooperating with the business partners and customers of Capital Investments cjsc. He assures that they will continue to receive personalized prime quality services in all areas.

This page was last updated 18.06.2019 12:49