CIMB Group’s Australian investment banking operations CIMB Australia has signed a strategic alliance agreement with RBS Morgans Holdings Pty Ltd (Morgans).
Under the agreement, CIMB Australia will provide research reports in relation to economic analysis and equities listed on the Australian Securities Exchange to Morgans for distribution to their clients, according to a statement by CIMB Group.
CIMB Australia and Morgans will also collaborate to manage equity capital markets (ECM) mandates in Australia, and leverage on the retail and institutional distribution platforms of CIMB Group and Morgans.
CIMB Australia Country Head Nick Rowe said the alliance allows Morgans’ customers to benefit from the highly ranked research of CIMB Australia and CIMB Australia to access Morgan’s unparalleled distribution platform of over 330,000 customers for ECM transactions.
“The agreement is a natural evolution and an important step for both companies. We have enjoyed over 15 years working together – albeit under a few different brand names,” said Rowe.
“In addition, the corporate advisory services cooperation also presents both companies with huge potential for cross referrals. We will be able to leverage off each other in markets that we are strong in respectively,” he added.
CIMB Group is the biggest Asia Pacific (ex-Japan) based investment bank and fifth largest universal banking group in Asean.
Its research arm covers over 1,000 stocks of Asia Pacific-based companies, and is arguably the most comprehensive research coverage platform in the industry, backed by award-winning teams of research analysts across the region.
Tim Crommelin, Morgans Executive Chairman Tim Crommelin said the alliance is a continuation of a long-term working relationship which was one of the most successful in the country and has delivered outstanding results for clients of both groups.
