CIMB Group Holdings Bhd, Malaysia’s second-biggest lender by assets, said today it was closing its investment banking operations in Australia following a review of its entire business: http://goo.gl/tRXtxR
On Friday, CIMB said it was looking to cut costs in the investment banking and equities segment by 30 percent this year.
“We have taken a long hard look at our Asia Pacific investment banking business,” said Zafrul Abdul Aziz, CIMB Group’s acting group chief executive officer. “The realities of today's capital markets and the absence of sufficient flows have directly contributed to this decision.”
CIMB to shut Australian investment banking ops
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'We have taken a long hard look at our Asia Pacific investment banking business.'
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