CIMB Group acquires KAF Equities, launches CIMB Securities to boost wholesale banking

CIMB Group Holdings Berhad, a leading ASEAN financial institution, has announced the completion of its strategic acquisition of KAF Equities Sdn Bhd through its investment banking arm, CIMB Investment Bank Berhad. This acquisition marks a significant milestone in CIMB’s efforts to bolster its in-house capabilities and enhance its wholesale banking services in Malaysia. KAF Equities will be rebranded as CIMB Securities Sdn Bhd, signifying a new chapter in providing comprehensive equities services.

The acquisition is part of CIMB’s strategic plan to provide an end-to-end value proposition for its clients, complementing the Group’s Wholesale Banking business with a full suite of equities services. This move aligns with the Group’s Forward23+ Strategic Plan, focusing on key markets and segments while diversifying propositions to establish its position as the leading focused ASEAN bank.

CIMB Securities aims to combine a highly experienced local research and sales team with regional and global partnerships, offering global content and value propositions to institutional and corporate clients. This approach underscores CIMB’s commitment to leveraging global insights and expertise to serve its clients better.

Under the leadership of Ruzi Rani Ajith as CEO, reporting to Novan Amirudin, Co-CEO of Group Wholesale Banking, CIMB Securities is poised to invest in technologies that align with the vision of being the brokerage of the future. Dato’ Abdul Rahman Ahmad, Group Chief Executive Officer of CIMB Group, emphasized the strategic importance of integrating stockbroking into wholesale banking offerings, demonstrating CIMB’s dedication to becoming the trusted partner in the Malaysian capital market.

This acquisition follows CIMB’s recent divestment of its stockbroking joint venture with CGS International Holdings Limited, maintaining a collaboration in the retail and wealth business to ensure seamless service for individual clients. It reflects CIMB’s ongoing efforts to explore and evaluate strategic opportunities to strengthen its franchise and deliver shareholder value.