According to the Malaysian lender, the acquisition of RBS’ Asia Pacific investment banking business will be fully completed by the end of 2012, following which operations will spread to a total of 16 nations in Asia Pacific region.
CIMB Australia Country head Nick Rowe said, "This is a tremendous opportunity for CIMB to take Australian clients into Asia and to bring its Asian clients into Australia, and this will clearly differentiate us from our competitors."
The bank will provide traditional investment banking advisory services, equity and capital market fund raising abilities, broking services and research, with the help of 145 employees in Sydney and Melbourne.
The bank, which also manages equities sales teams in London and New York, said Australia and Hong Kong will be its two largest ex-ASEAN operations.
Operations in the country will be carried out through its three main entities including CIMB Securities (Australia), CIMB Capital Markets (Australia), and CIMB Corporate Finance (Australia).
