KUALA LUMPUR (Mar 11): CIMB Investment Bank Bhd has teamed up with Morgans Financial Ltd to provide strategic business support by leveraging on each other’s strengths and capabilities in Australia.
In a joint statement today, CIMB and Morgans said they will work together on corporate transactions for cross border businesses between Australia and Asia.
"Both companies will join forces to optimise technology platforms, in order to formulate innovative and sophisticated products for their clients.
"CIMB will appoint Morgans as an exclusive execution agent in Australia for all inbound trades for CIMB into the Australian market. (At the same time,) Morgans will enhance its presence in Sydney and Melbourne with the expansion of its research, retail and institutional dealing teams," CIMB and Morgans said.
CIMB group chief executive Tengku Datuk Zafrul Tengku Abdul Aziz said the strategic alliance enhances CIMB’s investment banking franchise and maintains its ability to serve its clients, especially those who want access to the Australian market.
"Morgans will also leverage CIMB’s deep knowledge and market leadership in Asia to grow their business in this important region. We look forward to working closely with Morgans to strengthen both our businesses,” he added.