CIMB to do more investment banking in Hong Kong

New strengths allow it to be more competitive.

CIMB Group introduced its extended investment banking operations in Hong Kong after completing the acquisition of the Royal Bank of Scotland's investment banking businesses in the city.

These operations have been folded into CIMB's existing investment banking franchise. Matthew Kirkby, CEO for Hong Kong and Co-Head of Investment Banking, will lead the CIMB Hong Kong team that will provide, investment banking advisory services, equity and capital market fund raising abilities, broking services and research.

“We now have the full complement of investment bankers and equities personnel to be competitive in Hong Kong as well as to anchor our entire North Asia operations,” said Group Chief Executive Datuk Sri Nazir Razak.

“I am optimistic about our prospects because the new combined team has a strong onshore track record in Hong Kong and the differentiating proposition of a huge ASEAN based network. Our model is all about intermediating within Asia for Asia, and we have a unique platform for doing that.”

Kirkby noted there is significant potential in Hong Kong since it is one of the world's top financial centres and the gateway to China.

“CIMB has a unique understanding of Asia and in ASEAN in particular, and we think clients will appreciate the synergies and strengths of the Group's investment and universal banking platform across the region,” he said.