Investor Updates
Malaysia’s CIMB launches in Australia
14 November 2012
CIMB Group, Malaysia’s second largest bank ranked by total assets, has launched in Australia, after completing its acquisition of the Royal Bank of Scotland’s Australian investment banking businesses.
CIMB Group Chief Executive, Dato’ Sri Nazir Razak, said at the Sydney launch last Friday Australia is viewed as a key component of the Asian financial integration.
“We sense a lot of interest within Australia to build stronger ties with Asia and we want CIMB to play an important role in this process,” said Mr Nazir.
Australia Country Head for CIMB, Nick Rowe, said: “there is a real appetite in Australia for an investment bank that has such a thorough understanding of the region that represents Australia’s future.”
“This is a tremendous opportunity for CIMB to take Australian clients into Asia and to bring its Asian clients into Australia, and this will clearly differentiate us from our competitors,” he added.
Business will be carried out through three main operating entities – CIMB Securities (Australia) Limited; CIMB Capital Markets (Australia) Limited and CIMB Corporate Finance (Australia) Limited.
CIMB now has 145 employees in Sydney and Melbourne and will offer traditional investment banking advisory services, equity and capital market fund raising abilities, broking services and research. Australia and Hong Kong will be the Group’s two largest ex-ASEAN operations.
With the Australian acquisition, CIMB Group will have operations in 16 countries in Asia Pacific as well as equities sales teams in London and New York, making it the largest Asia Pacific-based investment bank outside Japan.
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