KUALA LUMPUR: CIMB Investment Bank Bhd and Morgans Financial Ltd have entered into an agreement to extend their alliance partnership in Australia.
Under the agreement CIMB will appoint Morgans as exclusive execution agent for all its inbound trade into the Australian market.
Morgans, on the other hand, will expand its coverage of Australian Stock Exchange-listed companies with differentiated and focused large cap research offerings.
CIMB Group Chief Executive Tengku Datuk Zafrul Tengku Abdul Aziz said CIMB’s investment banking franchise would be enhanced while its ability to serve the bank’s clients would be maintained with the alliance.
“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,” Zafrul said in a statement.
Based on the agreement, both companies will join forces to optimise technology platforms in order to formulate innovative and sophisticated products for clients.
