CIMB launches operations in Australia
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.