Timur Turlov — Founder, Chief Executive Officer, and Majority Shareholder of Freedom Holding Corp (NASDAQ: FRHC).
About Freedom Holding Corp.
Freedom Holding Corp is an international diversified financial services and investment banking group that delivers a wide range of products and services such as retail banking and brokerage, asset management and investment consulting, as well as a full suite of insurance services to its broad customer base.
The company has also been actively developing its non-financial services divisions through its acquisition of businesses in the lifestyle services segment as well as its investments in the telecommunications infrastructure and related retail telco products and services space.
About Timur Turlov
Turlov earned his Bachelor of Science degree in economics and management and holds a diploma as a financial specialist in broker-dealer and security management activities. In addition to his duties at Freedom Holding Corp., Turlov is the president of the Kazakhstan Chess Federation, the co-founder and chairman of the board of guardians of the Freedom QJ League (a youth football league) a board member of the Association of Financiers of Kazakhstan, a participant of the education project IQanat, and a member of YPO Kazakhstan.
The Geographic Scope and Timeline of Freedom Holding Corp.
Business in Central Asia
In 2008, Turlov co-founded the investment brokerage company, Freedom Finance.
In 2011, Timur Turlov opened Freedom’s office in Kazakhstan where the company became actively engaged in the development of the country’s financial infrastructure and organized initial public offerings (IPOs) on the local exchange, KASE.
In 2018, the company established two new insurance companies: Freedom Life and Freedom Insurance. The company also opened its first branch office in Uzbekistan where it obtained a license for investment activities.
In 2020, the company registered its new subsidiary, Freedom Finance Global. Freedom Finance Global specializes in providing investors with access to the world’s largest exchanges such as the New York Stock Exchange, Nasdaq, the London Stock Exchange, the Hong Kong Stock Exchange and the Frankfurt Stock Exchange.
In 2021, Freedom Bank became a part of the overall Freedom enterprise and shortly thereafter, the Bank became the leading mortgage lender in Kazakhstan due in large part to its suite of innovative digital lending products.
Freedom Holding Corp. also expanded into the lifestyle business segment by acquiring Ticketon.kz, an online ticket service, and PayBox.money, an e-payment service. In 2023, the company became the owner of Arbuz.kz, a foodtech startup, and airline ticket providers Aviata and Chocotravel. It also established Freedom Telecom, a new telecommunication operator in Kazakhstan.
Business in Europe
In 2015, the company entered the European market and registered its local subsidiary, Freedom Finance Europe, with headquarters in Cyprus.
In 2021, Freedom Finance Europe became a member of the leading international central securities depository Euroclear.
In 2023, Freedom Finance Europe obtained direct membership in the Athens Stock Exchange which allowed the company to take part in local IPOs.
Business in the U.S.
In 2019, Freedom Holding Corp. went public on Nasdaq. The company’s shares are available under the ticker symbol FRHC.
In 2021, the company purchased the American broker-dealer, Prime Executions Inc., kicking off the expansion of its business in the U.S.
Freedom Holding Corp. obtained all required underwriting licensure from U.S. regulators and in 2022 the company’s American subsidiary, Freedom Capital Markets, engaged in investment banking and equity capital markets activities. Freedom Capital Markets is on equal footing as any U.S. investment bank and can arrange IPOs on any American exchange.
In an effort to continue the expansion of its investment and banking business, in 2023 the company acquired LD Micro, an American investment data and microcap-company investor conference platform specializing in broadening the reach of smaller public companies to institutional and retail investors.
