Ranabaxy forms Religare-financial services window

New Delhi, Mar 10: Pharma major Ranbaxy Laboratories today announced the formation of 'Religare Enterprises Limited (REL)' which will provide financial services to its corporate, retail and wealth management clients.

'' The formation of Religare Enterprises is a strategic decision to consolidate and strengthen financial care business, an acknowledgement of group's commitment to everage tremendous opportunities in this segment,''Ranbaxy laboratories Managing Director Malvinder Mohan Singh said here.

Religare plans to establish teams of client-centric wealth managers who will be able to provide customised services in all asset classes including equity, commodities, real estate, international equity and structure investment.

Managing Director and CEO of REL Sunil Godhwani said:'' We are successfully building Religare into an integrated financial servises company.'' The company through its four subidiaries would continue to provide its portfolio mannagement, wealth management, retail equity trading, commodity trading, and mutual funds from its more than 150 locations, Mr Mohan Singh said.

UNI