In a sign of the growing links between Asia ex Japan and Australia, CLSA and Macquarie yesterday announced a co-operation agreement covering equity research, equity sales and trading, and corporate advisory work. It will see the two firms work together but not take any equity stakes in each other.
The move comes as CLSA seeks to fill out its coverage of the whole of Asia having retreated from its Eastern European and Latin American operations earlier in the summer. For Macquarie, it is the latest in a series of JVs and co-operation agreements that the firm has under taken to expand its sphere of influence outside of Australia and New Zealand, where it dominates.
The...
