29 November 2012

CIMB Strengthens Investment Banking Operations in Hong Kong

- Completion of CIMB’s acquisition of the RBC's IB businesses 
- Matthew Kirkby, CEO for Hong Kong will lead the192-strong team
Hong Kong & Australia will be CIMB's two largest ex-ASEAN mkts

Hong Kong - 27 November 2012 - CIMB Group introduced its extended investment banking operations in Hong Kong yesterday at a launch event attended by top clients, fund managers and financiers. The launch follows the completion of CIMB’s acquisition of the Royal Bank of Scotland’s investment banking businesses in Hong Kong and their integration into CIMB’s existing investment banking franchise.

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 Dato’ Sri Nazir Razak, CIMB Group Chief Executive. “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." 

Matthew Kirkby, CEO for Hong Kong and Co-Head of Investment Banking, will lead the 192-strong team in Hong Kong, providing investment banking advisory services, equity and capital market fund raising abilities, broking services and research. Kirkby has over 15 years of investment banking experience in Europe and Asia, and was the Head of Global Banking Asia Pacific, overseeing the Royal Bank of Scotland’s (RBS) corporate and investment banking business in Asia Pacific, including debt capital market, equities capital market and corporate finance.

There is significant potential in Hong Kong, as 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,” said Kirkby. 

Hong Kong and Australia (which launched operations earlier this month) will be CIMB Group’s two largest ex-ASEAN markets. Upon the full completion of the Group’s acquisition of RBS’ Asia Pacific investment banking business, anticipated in late 2012, the Group will have operations in a total of 18 countries.

Source: CIMB