CIMB poised to be Asia’s largest investment bank
(5 April 2012 – Asia) CIMB Investment Bank announced the acquisition of most of Asia Pacific cash equities and associated investment banking businesses of the Royal Bank of Scotland.
"This is an excellent opportunity to complete the build-up of our capabilities in Asia Pacific markets, and to do it quicker and less expensively than if we grew organically," said Dato’ Sri Nazir Razak, Group Chief Executive, CIMB Group.
CIMB claims that the deal amounting to £173.9 million (A$267.9 million) will make it the largest investment banking franchise based in Asia-Pacific (ex-Japan).
"Top tier international investment banking is an important extension to CIMB Group’s ASEAN universal banking platform. CIMB’s expanded investment banking franchise will enable us to assist investors and businesses who want to move in and out of ASEAN or across Asia Pacific as a whole,' Nazir says.
Since the acquisition of GK Goh Securities in 2005, CIMB’s investment banking franchise, including its securities operations, has been the market leader in ASEAN.
CIMB claims that the deal amounting to £173.9 million (A$267.9 million) will make it the largest investment banking franchise based in Asia-Pacific (ex-Japan).
"Top tier international investment banking is an important extension to CIMB Group’s ASEAN universal banking platform. CIMB’s expanded investment banking franchise will enable us to assist investors and businesses who want to move in and out of ASEAN or across Asia Pacific as a whole,' Nazir says.
Since the acquisition of GK Goh Securities in 2005, CIMB’s investment banking franchise, including its securities operations, has been the market leader in ASEAN.
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