Who is CLSA?

A collective of curious individuals who together, seek out and curate investible, tradable ideas for our clients.

Over 30 Years of Insights

CLSA’s clients know us for being out of the box thinkers who provide unrivalled insights on the issues and trends impacting investment decisions.

CLSA was founded in 1986 by Jim Walker and Gary Coull, two former journalists who focused on ‘the story’. Our journalistic heritage has never left us and for over thirty years we have told the story of Asia.

True pioneers in the development of the Asian securities industry, over 20 years they built what is today Asia’s leading brokerage and investment group. Both Jim and Gary passed away too young.

Jim Walker (1949 – 2004)

Gary Coull (1954 – 2006)

Timeline

1986

CLSA founded in Hong Kong by two former journalists, Gary Coull and Jim Walker.

1987

CLSA takes a ‘peep across the border’ in the 10-year countdown to Hong Kong’s handover to China.

1989

CLSA opens offices in London, New York and Tokyo.

1990

CLSA launches The Vanishing Border, a video forecasting the impact of China on Hong Kong.

1992

CLSA produces the first Feng Shui Index. Now our most highly anticipated annual report.

1994

CLSA hosts the first Investors’ Forum in Hong Kong.

1995

CLSA’s private equity business CLSA Capital Partners is born.

1996

CLSA hosts its first China Forum in Beijing and the first India Forum in Goa.

1997

CLSA’s ponders Hong Kong’s joint declaration and basic law in the same year as the Asian financial crisis.

1999

CLSA partners with Bloomberg to launch G-Trade wholesale executions services business.

2000

CLSA releases its first Corporate Governance report.

2002

CLSA global strategist Christopher Wood publishes his first Greed and Fear.

2003

CLSA creates Fortune CLSA Securities, the first sino-foreign JV in China following China’s entry into the WTO (A-share broking license granted in 2008).

2004

CLSA hosts first Japan Forum in Tokyo.

2005

CLSA is one of only five foreign brokerages granted full-equity brokerage license in Malaysia.

2007

CLSA’s inaugural Chairman’s Trust dealing day raises US$5 million. One of the first CT benefactors is Room to Read.

2009

The first CLSA Australia office opens in Sydney and hires Brian Johnson, Australia’s top-ranked banks analyst.

2009

CLSA initiates coverage of US-listed equities and hires Mike Mayo, one of the top-ranked US banks analysts.

2011

CLSA launches PRADA S.P.A the first Italian company listed on the Hong Kong Stock Exchange.

2013

CITIC Securities acquires CLSA following an initial 19.9% investment in 2011. Read the article in Institutional Investor

2014

First joint CLSA / CITICS research report is published in preparation for the HK-Shanghai Stock Connect.

2015

CITIC Securities International and CLSA merge their corporate finance and capital markets teams.

2015

CLSA launches first two ETFs: Chimerica and GARY with HK’s Enhanced Investment Products.

2016

CLSA celebrates 30 years of broking and investing.

Awards

CLSA has received numerous industry awards for its independent and insightful research, high quality equity brokerage and corporate finance & capital markets services.

2019


Asiamoney 30th Anniversary Brokers Poll of Polls

  • No.1 Best Overall Regional Combined Research & Sales 1990 – 2018 – CLSA & CITIC Securities


China Financial Market Awards

  •  Capital Market Star Investment Bank


Dealogic Awards

  • No.1 ECM Bookrunner by deal value
  • No.1 DCM Bookrunner by revenue – CITIC Securities/ CLSA

FinanceAsia Achievement Awards

  • Best Broker: CLSA
  • Best Philippines Deal: US$285 million IPO of AllHome Corp.
    • CLSA as joint bookrunner


FinanceAsia  Country Awards

SRI LANKA

  • Best Broker in Sri Lanka: CT CLSA

Institutional Investor All-Asia Sales Team

  • No.4 in Asia equity sales (excluding Japan)
  • No.1 Top Firm in the Philippines

Institutional Investor – The All-Asia Research Team

  • No.1 Best Analysts of the Year, weighted by Commissions: Overall Philippines Research
  • No.1 Best Analysts of the Year, weighted by AUM: Overall Philippines Research
  • No.1 Best Analysts of the Year, weighted by AUM: Overall Thailand Research
  • No.2 Best Analysts of the Year, weighted by Commissions: Overall Thailand Research
  • No.3 Best Firms of the Year, weighted by AUM: Overall Philippines Research
  • No.3 Best Australia/New Zealand Research Firms, weighted by Commissions: Health Care


REFINITIV STARMINE Analyst Awards

ASIA

  • No.3 Overall Analyst Awards for Utilities – Top Earnings Estimator
  • No.1 Top Stock Picker in Equity Real Estate Investment Trusts (REITs)
  • No.1 Top Earnings Estimator in Utilities
  • No.2 Top Earnings Estimator in Interactive Media & Services
  • No.3 Top Earnings Estimator in Semiconductors

AUSTRALIA & NEW ZEALAND

  • No.2 Overall Analyst Awards for Financial Services – Top Stock Picker
  • No.1 Top Stock Picker in Financial Services
  • No.1 Top Stock Picker in Interactive Media & Services
  • No.2 Top Stock Picker in Hotels, Restaurants & Leisure
  • No.2 Top Stock Picker in Telecom Services & Information Technology
  • No.2 Top Earnings Estimator in Chemicals & Forest Products
  • No.3 Top Stock Picker in Metals & Mining
  • No.3 Top Earnings Estimator in Hotels, Restaurants & Leisure
  • No.3 Top Earnings Estimator in Real Estate

HONG KONG & CHINA

  • No.2 Overall Analyst Awards for Utilities – Top Earnings Estimator
  • No.1 Top Earnings Estimator in Utilities
  • No.2 Top Earnings Estimator in Interactive Media & Services
  • No.2 Top Earnings Estimator in IT & Consumer Durables
  • No.3 Top Earnings Estimator in Consumer Discretionary

INDIA

  • No.2 Overall Analyst Awards for Information Technology – Top Stock Picker
  • No.1 Top Stock Picker in Energy
  • No.2 Top Earnings Estimator in Transportation
  • No.3 Top Earnings Estimator in Utilities

JAPAN

  • No.1 Top Stock Picker in Transportation
  • No.2 Top Stock Picker in Technology Hardware
  • No.2 Top Stock Picker in Telecommunication Services
  • No.3 Top Stock Picker in Entertainment
  • No.3 Top Earnings Estimator in Transportation


2018


Annual Deal & Solution Awards

BEST MID-CAP EQUITY DEAL IN SOUTHEAST ASIA 2018

  • BRI Syariah’s IDR 1337.9 billion (US$94 million) IPO
    • CLSA as joint lead underwriter

BEST SMALL-CAP EQUITY DEAL IN SOUTHEAST ASIA 2018

  • PT Sarimelati Kencana (Pizza Hut Indonesia)’s IDR 1 trillion (US$73 million) IPO
    • CLSA as joint lead underwriter

Asiamoney Brokers Poll

OVERALL

  • No.1 Overall Combined Regional Research & Sales (Asia Ex Australia, China A&B, Japan)
  • No.1 Overall Combined Research & Sales in Australia
  • No.1 Overall Combined Research & Sales in Japan
  • No.2 Overall Combined Research & Sales in China (A & B Shares)
  • No.1 Overall Regional Research As Voted By Most Active Traders (Asia ex Australia & Japan)
  • No.1 Overall Regional Research (Asia ex Australia & Japan)
  • No.1 Overall Regional Sales As Voted By Most Active Traders (Asia ex Australia & Japan)
  • No.1 Overall Regional Sales (Asia ex Australia & Japan)

REGIONAL (ASIA EX-JAPAN)

RESEARCH

  • No.1 Best Strategist
  • No.2 Best Strategist
  • No.1 Best Economist
  • No.1 Best Quantitative / Technical Analyst
  • No.2 Best Quantitative / Technical Analyst
  • No.1 Best Analyst for Automobiles & Components
  • No.2 Best Analyst for Automobiles & Components
  • No.1 Best Analyst for Banks
  • No.2 Best Analyst for Casinos & Gaming
  • No.1 Best Analyst for Consumer Discretionary
  • No.1 Best Analyst for Consumer Staples
  • No.2 Best Analyst for Consumer Staples
  • No.2 Best Analyst for Industrials
  • No.1 Best Analyst for Diversified Financials
  • No.3 Best Analyst for Diversified Financials
  • No.2 Best Analyst for Energy
  • No.1 Best Analyst for Healthcare
  • No.1 Best Analyst for Insurance
  • No.2 Best Analyst for Materials
  • No.3 Best Analyst for Materials
  • No.1 Best Analyst for Real Estate
  • No.1 Best Analyst for Semiconductors & Semiconductor Equipment
  • No.1 Best Analyst for Software & Internet Services
  • No.2 Best Analyst for Technology Hardware & Equipment
  • No.3 Best Analyst for Telecommunication Services Rank
  • No.3 Best Analyst for Transportation

SALES

  • No.1 Best Regional Salesperson
  • No.2 Best Regional Salesperson
  • No.3 Best Regional Salesperson
  • No.3 Best Regional Sales Trader
  • No.3 Regional Best Overall Services To Hedge Funds
  • No.3 Regional Best Overall Services In Prime Broking

JAPAN

RESEARCH

  • No.1 Best For Overall Country Research
  • No.1 Best Strategist
  • No.1 Best Economist
  • No.1 Best Analyst for Banks
  • No.1 Best Analyst for Consumer Discretionary
  • No.1 Best Analyst for Consumer Staples
  • No.1 Best Analyst for Energy
  • No.1 Best Analyst for Healthcare
  • No.1 Best Analyst for Industrials
  • No.1 Best Analyst for Insurance
  • No.1 Best Analyst for Semiconductors & Semiconductor Equipment
  • No.1 Best Analyst for Technology Hardware & Equipment

SALES

  • No.1 Best Overall Sales Services
  • No.2 Best Country Salesperson
  • No.3 Best Country Salesperson
  • No.1 Best Country Sales Trader
  • No.2 Best Country Sales Trader
  • No.3 Best Country Sales Trader

AUSTRALIA

RESEARCH

  • No.1 Best For Overall Country Research
  • No.1 Best Strategist
  • No.1 Best Analyst for Small Cap
  • No.1 Best Analyst for Banks
  • No.1 Best Analyst for Casinos & Gaming
  • No.1 Best Analyst for Consumer Discretionary
  • No.1 Best Analyst for Consumer Staples
  • No.1 Best Analyst for Diversified Financials
  • No.1 Best Analyst for Energy
  • No.1 Best Analyst for Healthcare
  • No.1 Best Analyst for Industrials
  • No.1 Best Analyst for Insurance
  • No.1 Best Analyst for Materials
  • No.1 Best Analyst for Real Estate
  • No.1 Best Analyst for Software & Internet Services
  • No.1 Best Analyst for Technology Hardware & Equipment
  • No.1 Best Analyst for Telecommunication Services
  • No.1 Best Analyst for Transportation
  • No.1 Best Analyst for Utilities

SALES

  • No.1 Best Overall Sales Services
  • No.1 Best Country Salesperson
  • No.2 Best Country Salesperson
  • No.3 Best Country Salesperson
  • No.1 Best Country Sales Trader
  • No.2 Best Country Sales Trader
  • No.3 Best Country Sales Trader


Dealogic Awards

  • No.1 Debt Capital Market Bookrunner in 2018, Asia ex-Japan



Euromoney Awards for Excellence

  • Best Investment Bank in China 2018  – CITIC Securities


FinanceAsia Country Awards for Achievement

CHINA

  • Best ECM House in China, Best DCM House in China and Best Belt and Road Bank in China 2018 – CITIC Securities

HONG KONG

  • Best investment bank in Hong Kong amongst Chinese Financial Institutions
  • Best broker in Hong Kong amongst Chinese Financial Institutions

Private Equity International Awards

  • No.3 for ‘Firm of the Year in Japan’ – CLSA Capital Partners


Private Debt Investor Awards

  • No.3 for ‘Lender of the Year’ – CLSA Capital Partners

REFINITIV STARMINE Analyst Awards

ASIA

  • No.2 Overall Analyst Awards for Utilities
  • No.1 Top Earnings Estimator for Utilities
  • No.1 Top Stock Picker for Health Care
  • No.2 Top Stock Picker for Software & IT Services

HONG KONG & CHINA

  • No.1 Top Stock Pickers for IT & Consumer Durables
  • No.1 Overall Analyst Awards for Utilities
  • No.1 Top Earnings Estimator for Utilities
  • No.2 Top Earnings Estimator for IT & Consumer Durables

INDIA

  • No.1 Top Earnings Estimator for Food, Household & Personal Products
  • No.3 Top Stock Picker for Food, Household & Personal Products
  • No.2 Top Stock Pickers for Energy
  • No.3 Top Earnings Estimator for Energy
  • No.3 Top Earnings Estimator for Information Technology
  • No.3 Top Earnings Estimator for Pharmaceuticals
  • No.3 Top Earnings Estimator for Real Estate

JAPAN

  • No.1 Top Stock Pickers for Telecommunication Services


The Asset Triple A Country Awards

CHINA

  • Best Equity Advisor in China – CITIC Securities
  • Best equity-linked in China: China Shipbuilding Industry Corporation zero-coupon US$1 billion exchangeable bond into Postal Savings Bank of China shares
    • CLSA as one of the global coordinators and bookrunners
  • Best bank capital in China: China CITIC Bank International US$1.8 billion multi-tranche senior bond
    • CLSA as one of the global coordinators

INDONESIA

  • Best high yield bond in Indonesia: Medco Energi US$500 million senior notes
    • CLSA as one of the bookrunners

THE PHILIPPINES

  • Best FIG bond in the Philippines: Security Bank US$300 million senior unsecured notes
    • CLSA as one of the lead managers and bookrunners

BANGLADESH

  • Best M&A in Bangladesh: Shenzhen Stock Exchange and Shanghai Stock Exchange US$119 million acquisition of a 25% stake in the Dhaka Stock Exchange
    • CLSA as the sole financial advisor

INDIA

  • Best IPO in India: HDFC Standard Life Insurance US$1.3 billion IPO
    • CLSA as one of the global coordinators, bookrunners and lead managers
  • Best new bond in India: YES Bank US$600 million fixed rate notes
    • CLSA as one of the bookrunners and lead managers


2017


Asiamoney Brokers Poll 

  • No.1 Overall Combined Regional Research and Sales for Asia (ex-Australia, China A&B, Japan)
  • No.1 Overall Combined Research and Sales for Japan
  • No.1 Overall Combined Research and Sales for Australia

Institutional Investor All-Asia Trading Team Rankings 

  • No.1 High Touch Trading for Developing Trading Markets – Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam
  • No.1 High Touch Trading for Frontier Trading Markets – Bangladesh, Brunei, Cambodia, Laos, Myanmar, Pakistan, and Sri Lanka
  • No.1 High Touch Trading – India
  • No.1 Local Market Color – India
  • No.1 Local Market Color – Korea

The Asset Triple A Country Awards

China

  • Best Bank Capital – Postal Savings Bank of China US$7.25 billion additional tier 1 capital securities
  • CLSA acted as joint bookrunner and lead manager on this deal
  • Best Domestic M&A – CITIC consortium US$2.08 billion acquisition of McDonald’s China Management Limited
  • CLSA acted as financial adviser on this deal

 Sri Lanka

  • Best Bond – Democratic Socialist Republic of Sri Lanka US$1.5 billion fixed rate notes
  • CLSA acted as joint bookrunner and lead manager on this deal

 GlobalCapital Asia Regional Capital Markets Awards

  • Best Financial Bond – Postal Savings bank of China’s $7.25bn Basel III-compliant additional tier one bond
  • CLSA acted as one of the bookrunner and lead managers on the deal

The Asset Triple A Regional Awards

China

  • Best Bank Capital – Postal Savings Bank of China US$7.25 billion additional tier 1 capital securities
  • CLSA acted as joint bookrunner and lead manager on this

2016


Asiamoney Best Domestic Bank Awards 2016

  • Best Domestic Equity House in Hong Kong

2015


Asiamoney Brokers Poll 2015 Asia (ex. Japan and Australia)

Research

  • No.1 Most Independent Research
  • No.1 Best Regional Strategist
  • No.1 Best Economist
  • No.1 Best Regional Quantitative/Technical Analyst
  • No.1 Best Analyst for Software & Internet Services
  • No.1 Best Team for Strategy, Quantitative/Technical Analysis, Consumer Staples, Materials and Software & Internet Services

Sales & Trading / Execution

  • No.1 Best Team for Regional Sales
  • No.1 Best Regional Salesperson
  • No.1 Best Salesperson in China, Hong Kong, Indonesia and The Philippines
  • No.1 Best Sales Trader in India and The Philippines

FinanceAsia Country Awards 2015

  • Best Chinese ECM House in Hong Kong
  • Best Chinese Investment Bank in Hong Kong
  • Best Chinese Broker in Hong Kong

Thomson Reuters The StarMine Analyst Awards 2015 (Australia & New Zealand)

Overall Category

  • No.1 Financial Services – Stock Picking
  • No.1 Health Care and Diversified Industrials – Stock Picking
  • No.1 Chemicals & Forest Products – Earnings Estimating
  • No.1 Hotels, Restaurants & Leisure – Earnings Estimating
  • No.1 Telecom Services & Information Technology – Earnings Estimating

KEY FACTS

CLSA provides corporate finance & capital markets, asset management, wealth management and securities services to global corporate and institutional clients.

  • Headquartered in Hong Kong
  • Located in 21 cities across Asia, Australia, Europe and the United States
  • Securities/Corporate Finance & Capital Markets/Asset Management/Wealth Management
  • No.1 Overall Combined Regional Research & Sales for Asia (ex-China A&B), Japan and Australia in the Asiamoney Brokers Poll 2018-2017
  • Since 2007, the CLSA Chairman’s Trust has donated over US$27.7 million to more than 120 non-profit organisations
  • 2,000 employees globally
  • CLSA’s parent company is CITIC Securities

CITIC Securities

CLSA’s parent company CITIC Securities is China’s leading brokerage and investment bank*.

With the mission to become a world-class, China-focused, global investment bank, CITIC Securities acquired CLSA in July 2013 and became the first Chinese brokerage to purchase a global financial institution. CLSA is now a wholly-owned subsidiary of CITIC Securities, China’s leading securities firm and largest underwriter of Chinese debt and equity.

CITIC Securities was established in October 1995 and headquartered in Shenzhen. The Company offers a wide range of financial services and products including securities brokerage, investment banking and asset management, to a large and diverse client base encompassing corporations, financial institutions, governments and individuals.

Together, CITIC Securities and CLSA share the common vision of becoming a dominant force in global broking and investment banking driven by a culture of excellence, integrity and independence.

For any further information, please see www.cs.ecitic.com

* CITIC Securities was No.1 Securities Company in China in terms of Revenue and Net Profit in 2017 according to its 2017 full year financial results announced in March 2018.