SAN DIEGO – (BUSINESS WIRE) – Nov. August 2021–
Ethos Asset Management Inc., USA, today announced the establishment of Ethos Commercial Consultancy JSC (ECC) in Istanbul, Turkey, which has recently joined the Ethos Group. The company was founded on May 25, 2021 by the President and CEO of Ethos Asset Management Inc., USA, Carlos Santos, in Istanbul with the support of Attributed Holdings International LLC.
This new operation and physical presence will allow Ethos to address some of the challenges of obtaining financial guarantees and other financial instruments to its US banks from various global jurisdictions. The Ethos team relies on the fact that Turkey has a very well developed modern banking system that enables Ethos to conduct its ongoing day to day global funding activities and enter new markets through much needed investments in local businesses, corporations, governments and non-profit organizations.
The company regards this step as a significant development in terms of the further growth and expansion of the Ethos group. The move will go a long way towards addressing the cross-border banking and finance laws that are tightening around the world. This new local presence in Turkey is designed to support Ethos’ transactions and increase business each day with South America (with a focus on Brazil), the Middle East, Africa, Asia and the countries of the Far East.
Carlos Santos, President and CEO of Ethos, said: “We were very excited and motivated to establish a subsidiary of Ethos in Turkey. This will give new Turkish and international clients and potential partners in the region the opportunity to be funded by Ethos to become dynamic, efficient and personal. Recent changes in cross-border laws and the ongoing Covid crisis have had a significant impact on the banking system. Several banks in the United States where Ethos conducts primary business have closed their international trading departments to avoid their potential risk to the failure of other institutions and to reduce overall risk to the sector, and some bankers believe that these internal policies reduce overall systemic risk. “
Banks with which Ethos does business in the US have ceased working with banks in Europe, South America, Asia and Africa, resulting in more complex operations. It was therefore inevitable for the company to locate elsewhere. Turkey will be of fundamental importance in this substitution for the foreseeable future to protect Ethos’ business operations until the global economy stabilizes. Ethos therefore regards investing in Turkey, its people and communities as a primary strategic goal in order to forge new long-term partnerships in the region.
Meryem Ipeklioglu, a lawyer at IDG Legal in Istanbul, said: “Turkey belongs to a group of emerging countries and is clearly one of the best banking systems. The banking system in Turkey collapsed in 2002. At that time, the government created one of the best systems in the world to control all bankrupt institutions and to help clean up banks. To date, the 23 banks supported are more stable than the average for all banks in Portugal, Spain, France and Italy. The Turkish banks have an extensive list of Relationship Management Applications (RMA) with banks in countries around the world. It is an honor to have this opportunity to support Ethos and to be a partner in their visionary movement that will affect the Turkish economy in a unique way. “
Elvan İnanlı, CPA, Partner at Crowe Troy, Istanbul, said: “Ethos regards Turkey as a central hub for international trade and trade because of our history with more than 8000 years of experience in the field. The issuance of a stand-by letter of credit (SBLC) or other financial instrument is part of any international trade or trade. I understand that Ethos sees Turkey and its banks in particular as the right financial partners to develop their business and to deposit their guarantees. “
About Ethos Commercial Consultancy JSC:
ETHOS COMMERCIAL CONSULTANCY JSC, a stock corporation under Turkish law, is a subsidiary of Ethos Asset Management with a global reach in project finance. Ethos provides its own resources to finance government and privately funded projects on every continent and in every sector, and provides capital for project structuring and debt restructuring.
About Ethos Asset Management:
Ethos Asset Management (Ethos) is an independent US-based company with a global reach in resource mobilization and project finance. Providing funding for government and privately funded projects on every continent and in every sector, Ethos has developed a unique risk modulation model that enables them to provide funding on terms nowhere available in traditional financial markets. In addition, Ethos advises on the structuring of projects and the restructuring of debts. Ethos supports and develops its customers in order to find their way in the changing market environment and to achieve their long-term goals with confidence. For more information on Ethos Asset Management, please visit https://www.ethosasset.com/.
You can hear from Carlos Santos, CEO of Ethos, in Dubai, where he is a guest speaker and panelist at the Leaders Without Borders Leadership Summit and the International Honors, the premier meeting of high-level professionals from around the world, at Habtoor Palace, Dubai, from September 29th to 30th, 2021.
For more information on Ethos, please visit: https://www.ethosasset.com/
About Attributed Holdings International:
Attributed Holdings is a global holding company that has strategic partnerships with companies and individuals in the private equity, industrial manufacturing, healthcare, biotechnology, real estate, construction, land development, legal, and investment banking industries. Attributed works as an associate of Ethos Asset Management and a partner of Ethos Commercial Consultancy JSC in establishing successful project finance transactions. Our partners have been leaders in innovation in their respective companies throughout their careers and have been involved in highly successful national and global initiatives that have made positive changes in both the private and government sectors.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210819005803/en/
CONTACT: Mr. Carlos Santos
KEYWORD: TURKEY BRAZIL UNITED STATES SOUTH AMERICA NORTH AMERICA EUROPE CALIFORNIA
INDUSTRY KEYWORD: CONSULTING BANKING PROFESSIONAL SERVICES FINANCE
SOURCE: Ethos Asset Management Inc., USA
Copyright Business Wire 2021.
PUB: 8/19/2021 7:27 PM / DISC: 8/19/2021 7:27 PM