Citic Securities and Credit Agricole combine forces

Citic and Credit Agricole join forces in a deal that puts CLSA in a position to become the dominant foreign player in the China brokerage market.

China's largest stockbroker Citic Securities and French firm Credit Agricole have inked a deal to combine their global brokerage and investment banking businesses.

As per the terms of the alliance, CLSA and Citic will enter a joint venture for the research, broking and equity capital markets businesses in China, putting the Hong Kong-based brokerage in a good position to become the dominant foreign player in the China brokerage business. CLSA is 65%-owned by Credit Agricole. 

Financial terms of the deal have not been disclosed and details of how the JV will be managed in China and the exact representation of Citic and CLSA on the board of the JV are still being ironed out....

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222