CIMB Australia and Morgans to collaborate to manage equity capital markets

CIMB will also provide research reports.

In a release,  CIMB Group announced that its Australian investment banking operations, CIMB Australia has entered into a strategic alliance agreement for the provision of research reports and cooperation on corporate advisory and capital markets work in Australia.

Under the agreement, CIMB Australia will provide research reports in relation to economic analysis and equities listed on the Australian Securities Exchange to RBS Morgans Holdings Pty Limited (Morgans) for distribution to their clients. 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.

The agreement was signed by Nick Rowe, Country Head of CIMB Australia and Brian Sheahan, Managing Director of Morgans.

"We are pleased to announce this strategic agreement with Morgans. 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 Nick Rowe.

“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. 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, Executive Chairman of Morgans, commented, “The alliance is a continuation of a long term working relationship which we believe was one of the most successful in the country and has delivered outstanding results for clients of both groups. We look to a strong future with our partners who are one of Asia’s leading financial institutions and see their unequalled connections into Asia as a great leverage point for all clients.”

The alliance will be overseen by an advisory board consisting of members from CIMB Australia and Morgans.