Date
25 March 2017
CITIC Securities aims to seize the opportunities in cross-border deals with its new global investment banking platform. Photo: Bloomberg
CITIC Securities aims to seize the opportunities in cross-border deals with its new global investment banking platform. Photo: Bloomberg

CITIC Securities launches global investment banking unit

China’s CITIC Securities launched a global investment-banking venture Monday in a bid to capture opportunities arising from growing cross-border deals.

The new venture, CITIC CLSA Securities, combines CITIC’s bankers with those from CLSA, which was acquired by the Chinese group two years ago, the Wall Street Journal reported.

CITIC CLSA was established “to capitalize on increasing outbound Chinese investment and foreign investors seeking access to China,” the two firms were quoted as saying in a statement.

The venture integrates investment-banking operations at both firms and will have 100 people on staff across 10 cities globally. 

CITIC Securities, China’s biggest brokerage by revenue, bought CLSA from France’s Crédit Agricole in July 2013.

“With this new business, we are better positioned for the rising amount of Chinese investment into Europe, which reached US$18 billion this year alone and continues to grow,” Andrew Low, head of CITIC CLSA, was quoted as saying.

“We’re seeing a lot of our clients in China interested in Europe and are also getting approaches by European companies looking for a buyer or investor and believing that the natural buyer may be a Chinese one,” he said.

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