Once completed, the merger will overtake CIMB Securities which is currently leading with a market share of 10.5%.
OSK Investment Bank Bhd will bring its expertise in the regional investment banking business and small and mid-cap companies in a merger with RHB Banking Group.
Contrary to some views the proposed merger was an overlapping one, the merged entity would be synergistic, OSK Investment Bank Bhd CEO and executive director U Chen Hock said.
He added that OSK Investment Bank has about 3,500 employees in its investment banking business across Malaysia, Indonesia, Thailand, Singapore, Cambodia and Hong Kong with representative offices in China.
RHB has more than 700 employees in its investment banking business. Analysts said the merged entity would be one of the top three investment banking groups in Malaysia.
U said investment banking is a talent-driven business and with a strong pool of talent, it will definitely be good for the merged entity.
“The merger will also add value to the enlarged entity as OSK Investment Bank will be able to provide small and medium cap investment banking advisory services to RHB's current big cap business.
View the full story in The Malaysian Star.
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