CIMB launches op­er­a­tions in Aus­tralia

The Pak Banker - - Front Page -

SYDNEY

CIMB Group launched its in­vest­ment bank­ing op­er­a­tions in Aus­tralia this week, fol­low­ing the com­ple­tion of its ac­qui­si­tion of the Aus­tralian in­vest­ment bank­ing busi­nesses of the Royal Bank of Scot­land (RBS).

From our po­si­tion at the heart of the Asian growth story, we view Aus­tralia as a key com­po­nent of Asian fi­nan­cial in­te­gra­tion, said Dato' Sri Nazir Razak, CIMB Group Chief Ex­ec­u­tive, af­ter a launch party at the Mu­seum of Con­tem­po­rary Arts in Sydney.

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, he added.

Aus­tralia is a new coun­try for ASEAN-based CIMB Group, the largest Asia Pa­cific ( ex Ja­pan) based in­vest­ment bank and the fifth largest univer­sal bank­ing group in ASEAN.

Upon full com­ple­tion of its ac­qui­si­tion of RBS' Asia Pa­cific in­vest­ment bank­ing busi­ness at the end of 2012, CIMB Group will have op­er­a­tions in a to­tal of 16 coun­tries in Asia Pa­cific as well as eq­ui­ties sales teams in Lon­don and New York.

We think 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, said Nick Rowe, Aus­tralia Coun­try Head for CIMB.

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.

Aus­tralia Chair­man, Si­mon Per­rott, has more than two decades of IB ex­pe­ri­ence in the UK and Aus­tralia and has ad­vised on sev­eral land­mark deals for QR Na­tional and Wool­worths, among oth­ers.

Aus­tralia Head of Eq­ui­ties is Ran­dolf Clin­ton, who has 27 years of ex­pe­ri­ence in global eq­ui­ties mar­kets in roles in Europe, Asia and Aus­tralia. Os­car Lud­wig­son, who is Head of In­vest­ment Bank­ing, has worked in for­mer RBS busi­ness in Aus­tralia and over­seas for last decade.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.