Kepler Cheuvreux and CIMB seal binding Cooperation Agreement

Paris, Kuala Lumpur – 5th October, 2015


Partnership will address customers’ need for cross-distribution of equity research across Asian and European markets, and establish a single global program trading platform

On 29th June, Kepler Cheuvreux and CIMB Investment Bank Berhad (“CIMB”) had signed a preliminary cooperation agreement and a Memorandum of Understanding to crossdistribute equity research in both their respective regional markets in Asia and Europe. The intention is also to create a single global program trading platform. After extensive due diligence on both sides and having obtained the requisite board approvals, the cooperation agreement is now final and the joint venture is operational from 2nd October.

CIMB, one of Asia's largest investment banks, and Kepler Cheuvreux, a leading independent brokerage firm ranked within the top ten for European equities will work together and leverage each other’s strengths in regional research and execution. This will include experts from Kepler Cheuvreux taking up positions in CIMB’s office in Hong Kong to market European equities to Asian clients. In the UK, access to Asian equities will be provided through CIMB sales personnel as well as sales traders already located in London, while the creation of a new desk in Paris will connect continental European clients with the Asian market.

Commenting on today’s signing of the cooperation agreement, Carol Fong, CEO of CIMB Securities said, “Over the past 3-month period of thorough due diligence and foundation building, both teams have assimilated their processes into a single global program trading platform, enabling both parties to reach out to a wider breadth of clients through an intelligent and efficient operating structure. The next steps will be exciting as we are able to offer new and enhanced research capabilities as added value services. This is achievable through a powerful synergy between our strong and dominant positions in both regions coupled with our highly-specialised execution capability backed by highly robust research.”

Laurent Quirin, CEO of Kepler Cheuvreux, added, “Over the summer our clients have been very focused on Asia and, in particular, on the gyrations of the Chinese stock market. I believe that CIMB’s expertise will help our clients to understand what is really going on under the surface of the Asian economies and stock markets. Kepler Cheuvreux has an incredibly strong client franchise in Europe. By using our cooperation with CIMB as a template, we intend to offer equities products from all regions to our clients. I know that CIMB shares a similar philosophy on inter-regional partnerships for their Equities business.”

Today’s cooperation agreement concerns equities only. It is envisaged that the partnership could also be extended to other areas such as equity capital markets, mergers and acquisitions (‘M&A’), retail as well as private banking.

Both companies have an extremely extensive research footprint with 750 stocks under research coverage for CIMB (over 1,000 stocks with partnerships) and 675 stocks for Kepler Cheuvreux.

About CIMB

CIMB Group is Malaysia’s second largest financial services provider and one of ASEAN’s leading universal banking groups. It offers consumer banking, investment banking, Islamic banking, asset management and insurance products and services. Headquartered in Kuala Lumpur, the Group is now present in nine out of 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam, Myanmar and Laos). Beyond ASEAN, the Group has market presence in China, Hong Kong, Bahrain, India, Sri Lanka, Taiwan, Korea, the US and UK.

CIMB Group has the most extensive retail branch network in ASEAN of more than 1,000 branches as at 30 June 2015. CIMB Group’s investment banking arm is also one of the largest Asia Pacific-based investment banks, offering amongst the most comprehensive research coverage of more than 1,000 stocks in the region.

CIMB Group operates its business through three main brand entities, CIMB Bank, CIMB Investment Bank and CIMB Islamic. CIMB Group is also the 97.9% shareholder of Bank CIMB Niaga in Indonesia, and 93.7% shareholder of CIMB Thai in Thailand.

CIMB Group is listed on Bursa Malaysia via CIMB Group Holdings Berhad. It had a market capitalisation of approximately RM46.4 billion as at 30 June 2015. The Group has over 44,000 employees located in 17 countries.


Media contact

Effendy Shahul Hamid
Group Chief Marketing and Communications Officer
CIMB Group
[email protected]
Tel: +603 - 2261 0688
Fax: +603 - 2261 0601

Josandi Thor
Managing Director
Head of Brand, Marketing and Communications
CIMB Group
[email protected]
Tel: +603 - 2261 0628 / +65 - 6302 3885
Fax: +603 - 2261 0601 / +65 - 6506 1222

About Kepler Cheuvreux

Kepler Cheuvreux is a leading independent European financial services group specialised in advisory services and intermediation. The group has four business lines: Equities, Debt & Derivatives, Investment Solutions and Corporate Finance. Headquartered in Paris, the group employs around 550 staff. This multi-local company is also present in Amsterdam, Boston, Frankfurt, Geneva, London, Madrid, Milan, New York, Paris, San Francisco, Stockholm, Vienna and Zurich.

Management and staff are the largest shareholders. Major European financial groups, including Crédit Agricole CIB and UniCredit, are also significant shareholders.

Kepler Cheuvreux employs 90 equity analysts who research 675 Continental European companies, of which 438 are classified as Small & Mid cap (market capitalizations under € 6bn). Kepler Cheuvreux has the largest equity research footprint in Continental Europe. For further details, please go to: www.keplercheuvreux.com


For further details, please go to: www.keplercheuvreux.com


Media contact

Robert Buller
[email protected]
Tel: + 33 (0) 1 53 65 35 79