CIMB to have more remisiers, dealers
Group getting more demand for such services
PETALING JAYA: CIMB Group hopes to double the number of its remisiers, dealers and equity relationship officers in Malaysia to 500 in 18 months from 250 now.
Group chief executive Datuk Seri Nazir Razak said the perception that the days for remisiers were numbered was wrong as the group was experiencing rising demand from clients for such services.
“I think one of the reasons for our growth is having the right remisiers, dealers and equity relationship officers to work with us.
“Apart from increasing the number of these people locally, we also plan to increase their numbers regionally from the current 700 to 1,000 within that period,” he said after launching CIMB Securities and its flagship branch yesterday.
He, however, said the contribution of the securities business to the group was still small despite the growth in demand. Currently, investment banking contributes about 25% to the group’s profit.
(Picture) CIMB Group deputy chief executive ofiicer (corporate and investment banking) Datuk Charon Wardini Mokhzani (left) and Datuk Seri Nazir Razak at the launch
Nazir said the outlook of the local equity market was still strong.
“We saw some rebound in the equity market in general. Last week, we have been actively involved in three to four initial public offerings in the region,” he said.
He added that there were no changes in earnings prospects for the group’s banking operations.
On CIMB Securities, Nazir said the group had decided to revive the brand to consolidate with its other securities business globally.
“As a company, CIMB Securities is still under CIMB Investment Bank but as a brand, it is on its own,” he said.
PETALING JAYA: CIMB Group hopes to double the number of its remisiers, dealers and equity relationship officers in Malaysia to 500 in 18 months from 250 now.
Group chief executive Datuk Seri Nazir Razak said the perception that the days for remisiers were numbered was wrong as the group was experiencing rising demand from clients for such services.
“I think one of the reasons for our growth is having the right remisiers, dealers and equity relationship officers to work with us.
“Apart from increasing the number of these people locally, we also plan to increase their numbers regionally from the current 700 to 1,000 within that period,” he said after launching CIMB Securities and its flagship branch yesterday.
He, however, said the contribution of the securities business to the group was still small despite the growth in demand. Currently, investment banking contributes about 25% to the group’s profit.
Nazir said the outlook of the local equity market was still strong.
“We saw some rebound in the equity market in general. Last week, we have been actively involved in three to four initial public offerings in the region,” he said.
He added that there were no changes in earnings prospects for the group’s banking operations.
On CIMB Securities, Nazir said the group had decided to revive the brand to consolidate with its other securities business globally.
“As a company, CIMB Securities is still under CIMB Investment Bank but as a brand, it is on its own,” he said.
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