Freedom Holding Corp., founded in 2008 by Timur Turlov, has grown into one of the most prominent investment conglomerates globally. With its headquarters in Almaty, Kazakhstan, the company operates across 22 countries, including the United States, Europe, and Central Asia. By offering a wide range of financial services, Freedom Holding Corp. has established itself as a major player in the financial industry. This article delves into the company’s history, growth, and impact on the global financial market.
History and Evolution
Freedom Holding Corp. began its journey in Moscow, Russia, with a vision to provide retail investors in the post-Soviet states access to global financial markets. Timur Turlov founded the company during the financial crisis of 2008, a time when many saw challenges, but Turlov saw opportunities. Recognizing the untapped potential in Central Asia, Turlov moved the company’s base to Kazakhstan in 2011, forming Freedom Finance JSC.
The move to Kazakhstan proved to be a masterstroke, as the country served as a gateway to emerging markets in the region. Freedom Holding Corp. capitalized on this position by offering innovative financial products tailored to the needs of local and regional investors. The company’s ability to adapt and innovate soon led to significant growth, with an expanding client base and increasing market presence.
Going Global
One of Freedom Holding Corp.’s defining moments came in 2019 when it became the first financial organization from the Commonwealth of Independent States (CIS) to be listed on the NASDAQ stock exchange. This marked a significant milestone for the company and the region, as it signaled the arrival of Central Asian businesses on the global stage.
The company continued its rapid expansion, establishing operations in major financial hubs like the United States, the United Kingdom, Germany, and Cyprus. As of 2024, Freedom Holding Corp. offers services in 22 countries, providing clients access to leading stock exchanges, including the New York Stock Exchange (NYSE), NASDAQ, London Stock Exchange (LSE), Euronext, and regional exchanges such as the Kazakhstan Stock Exchange (KASE) and Astana International Exchange (AIX).
Services and Subsidiaries
Freedom Holding Corp. delivers a wide array of financial services, ranging from retail brokerage to investment banking. The company’s subsidiaries, each specializing in specific financial products, have contributed significantly to its growth and reputation:
- Freedom Finance JSC: A key player in Kazakhstan, this subsidiary is a leading securities broker and a market maker for securities on KASE and AIX.
- Freedom Finance Global PLC: This entity provides clients with access to international stock markets, offering seamless trading opportunities.
- Freedom Bank Kazakhstan JSC: Established in 2020, this bank offers innovative financial products like multi-currency cards, online loans, and digital mortgages.
- Freedom Finance Insurance JSC and Freedom Finance Life JSC: These subsidiaries provide comprehensive insurance solutions, including life insurance and travel policies.
The company’s proprietary trading platform, Tradernet, enhances accessibility by enabling users to trade securities and monitor portfolios with ease.
Financial Performance and Recognition
Freedom Holding Corp.’s financial success has been impressive. For the fiscal year ending March 31, 2024, the company reported total revenue of $1.635 billion, with a net income of $375.54 million. Its total assets reached $8.3 billion, and equity stood at $1.167 billion, reflecting its robust financial health.
In recognition of its strong market position, S&P Global Ratings affirmed the company’s long-term credit rating at “B+” with a stable outlook in December 2024. Four of its subsidiaries also received upgraded credit ratings, underscoring the group’s reliability and sound management.
A Leader in Innovation
Freedom Holding Corp. has distinguished itself through innovation and a customer-centric approach. By leveraging technology, the company has streamlined access to global markets for retail and institutional investors alike. Its focus on transparency and compliance has strengthened investor trust, making it a go-to platform for financial services.
Conclusion
Freedom Holding Corp. is more than just a financial services provider; it’s a testament to the power of vision, adaptability, and strategic execution. From its modest beginnings in Moscow to becoming a global financial powerhouse, the company has redefined investment opportunities in Central Asia and beyond. With a growing presence and a commitment to innovation, Freedom Holding Corp. continues to shape the future of the financial industry, empowering investors worldwide.
