KUALA LUMPUR (Aug 16): Malayan Banking Bhd's (Maybank) investment banking arm Maybank Kim Eng and Mizuho Securities Co formed a partnership to grow their equity brokerage businesses in Asia.
In a statement today, Maybank Kim Eng said the partnership will offer the group access to Mizuho's institutional clients in Japan. The collaboration will see Mizuho's institutional clients gaining access to Maybank Kim Eng's research reports and corporate services.
"Asean is one of the fastest growing regions in the world and the partnership will benefit Mizuho's institutional clients in Japan, as they will gain from Maybank Kim Eng's deep and wide knowledge of the region, as well as access to the investment opportunities in the Asean markets.
"Maybank Kim Eng, on the other hand, will be able to leverage Mizuho's strong franchise in the Japanese domestic market," Maybank Kim Eng said.
According to Maybank Kim Eng, the partnership could offer new business opportunities for both groups.
Maybank Kim Eng chief executive officer Datuk John Chong said in the statement: "This partnership is a testament of Maybank Kim Eng's strength in Asean, our deep understanding of the region and access to its vast potential."
At Bursa Malaysia, Maybank shares rose seven sen or 0.9% at 12:30pm to settle at RM8.04 for a market value of RM80.37 billion. The stock saw some 3.6 million shares traded.