More than 15 months after CIMB agreed to buy part of Royal Bank of Scotland’s investment banking and brokerage business in Asia-Pacific, all of the RBS assets have finally been put into operation under its new owner.
The reason it has taken so long is that RBS retained its brokerage licences in some markets, which meant that the Malaysian bank had to apply for its own. In March this year it started its brokerage and corporate finance business in South Korea after winning a licence there and in April it launched a full suite of brokerage and investment banking services in India.
On Friday last week,...
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