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CITIC Securities Co., Ltd. is China’s largest full-service investment bank. It offers services in underwriting, research, brokerage, asset management, wealth management, and investment advisory. CITIC Securities was established in 1995 and it is headquartered in Shenzhen, Guangdong Province.
Citic Securities is an offshoot of Chinese state-owned investment company Citic Group, which was a direct product of reform and opening up led by Deng Xiaoping. Established in 1979 as a main vehicle for the Chinese government to procure funds from abroad to help foster growth at home, it has transformed into a conglomerate with stakes in banking, securities, investment, mining, engineering, manufacturing, real estate and other businesses.
Facts:
Citic Securities bought Hong Kong-based CLSA in 2013
Citic Securities has acquired a number of brokerages, including Credit Agricole SA’s CLSA, Wantong Securities Co and Goldstone Securities Citic Securities will conduct due diligence on Guangzhou Securities and will hire financial and legal consultants to carry out the planned transaction, according to the filing.
Read more at https://www.thestar.com.my/business/business-news/2018/12/27/citic-securities-to-acquire-local-rival-in-expansion-push/#dE6lQJMc56oYQbvW.99
Largest Brokerage firms in China -> Citic Securities, CICC (China International Capital Corp), Huatai Securities, Guotai Junan Securities, China Merchants Securities, CSC Financial, Orient Securities, E Fund Management and China Southern Asset Management.
Earnings Surge
Insider Trading of CEOs
References: 2018 annual report
