CIMB Group Officially Launches CIMB Securities

Alex Cheong Pui Yin

10th May 2024 - 3 min read

CIMB Group has today officially launched CIMB Securities, a wholly owned subsidiary under CIMB Investment Bank Bhd. This came following CIMB Group’s completed acquisition of KAF Equities Sdn Bhd in February 2024 as part of its strategy to enhance its in-house capabilities that complement the group’s wholesale banking business.

In a statement, CIMB said that the platform will offer a complete suite of innovative solutions with integrated stockbroking and equities services to add on to the other whole sale banking solutions that are already available, such as financing, treasury, and investment banking advisory. Its main customer segment for now will be institutional and corporate investors, with services for retail customers to come at a later date.

“Adopting a structured and phased approach, we have a clear roadmap for the future where we will first focus on the wholesale market, and later to focus on the retail and wealth segment. We will collaborate with international and regional players to bring international content and ideas to our clients, but without the cost of ‘on the ground’ teams in the region. We are also investing in technology to scale up our business at the right time,” said the co-chief executive officer (group wholesale banking) of CIMB Group, Novan Amirudin.

Novan also commented that CIMB Securities will be looking at forging partnerships in both regional and developed markets to create a network that brings together growth, resilience, and adaptability.

“CIMB Securities blends global perspectives with localised expertise, ensuring that our market intelligence is not just comprehensive but contextualised. This unique synthesis enables us to provide insights that resonate in diverse markets, driving investment success for our clients on a global scale,” Novan further stated, adding that the introduction of CIMB Securities will strengthen CIMB Group’s ecosystem, allowing it to offer a more comprehensive wholesale banking value proposition.

For context, the establishment of CIMB Securities started with the introduction of CGS-CIMB Malaysia, a stockbroking joint venture between CIMB Group and China Galaxy International Financial Holdings Ltd (CGS) back in 2019. Fast forward to 2023, CGS decided to acquire full ownership of CGS-CIMB Malaysia and rebrand as CGS MY. CIMB Group subsequently opted to acquire KAF Equities to re-enter the stockbroking space as CIMB Securities.

To further note, CIMB Securities has actually been operating since its inception in February 2024, and has concluded several block deals and secondary placements to date, valued at close to RM6.3 billion in total. Notable deals include ANZ’s RM2.1 billion sell-down of AmBank – the largest equity block trade in Malaysia since 2017. Moving forward, it aims to achieve a high single-digit growth in market share by year end, in line with the government’s aspirations to create a vibrant ecosystem and grow the Malaysian capital market.

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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