Asian brokerages CITIC and CLSA have launched a new capital markets and corporate finance business to provide inbound and outbound investment services in Mainland China.
CITIC CLSA Securities will have a global presence and said it want to become the leading provider of Chinese capital to global investors.
The two firms had already been working together since early 2014, which saw the integration of their corporate finance and capital markets capabilities.
CITIC CLSA Securities will have a presence beyond its core markets of Greater China, ASEAN and India, expanding its presence with new teams in Australia and Europe.
Jonathan Sloane, chairman and CEO of CLSA and co-CEO of CITIC Securities International, said: “With CITIC CLSA Securities we can build on CLSA’s established 25-year track record of capital raising in Asia and CITIC Securities’ lead position in China to facilitate global capital flows into China and leverage the ongoing liberalisation of the country’s financial sector.”
He added that the new venture will not compromise CLSA’s existing commitment to critical analysis of companies and market trends and reaffirmed its commitment to being a research-drive equity broker.
As well as providing greater access to Chinese companies to international investors, the new business also hopes to capital a significant chunk of outbound Chinese investment. CLSA said Chinese investment into Europe has increased rapidly with 113 direct investments in 2014, up from just 36 in 2010, with France, Germany, Italy and the UK seen as key target markets.