ICICI Securities Ltd, the investment banking subsidiary of private sector lender ICICI Bank, has entered into a strategic partnership with Hong Kong-based brokerage firm AM Capital Ltd to pursue new business opportunities in India and Asia Pacific, as per a press release.
Mumbai-headquartered ICICI Securities, with a strong capital market presence as a full service equity house, is expected to get benefited from AM Capital's experience and expertise in Hong Kong, it said in the statement.
The partnership is, however, subject to necessary regulatory approvals.
“This is an opportunity for both ICICI Securities as well as AM Capital. This alliance gives us a footprint in Hong Kong, and we believe that ICICI Securities will be able to provide high quality research and access to the Indian market to AM Capital’s clients. The alliance also enhances our reach for our clients with interests in investing in Hong Kong securities market through AM Capital,” Ajay Saraf, Executive Director, ICICI Securities Ltd, said.
AM Capital, which is an independent brokerage specialising in Hong Kong & Asian equity markets, focuses on equity sales and trading, equity research, corporate finance advisory & asset management.
“ICICI Securities shares our commitment to providing institutional investors with a quality research product and superior service. Their track record, resources and brand in India complements our existing product and service offerings and will help leverage our footprint across Asian equity markets,” said David Williamson, CEO, AM Capital Hong Kong.
ICICI Securities is an integrated securities firm in India and caters to the needs of corporate and retail customers through investment banking, institutional broking, retail broking and financial product distribution businesses. The Institutional research team of the company covers 144 companies, spread across 15 diversified sectors and mid-cap stocks.
Earlier in October 2013, ICICI Securities had tied up with GCA Savvian Corporation, a Japanese investment bank to jointly pursue merger and acquisition (M&A) intermediation opportunities in India and Japan.
(Edited by Joby Puthuparampil Johnson)