CLSA announces changes to its US equity broking business

New York – Monday, 27^th February 2017 – CLSA, Asia’s leading brokerage and investment group today announces changes to its US equity broking business in the United States. Operating under CLSA Americas LLC, CLSA will pivot its US domestic equity broking business to focus exclusively on the provision of execution and trading services to institutional investors.

CLSA Americas will continue to offer its current full suite of execution and trading services, including sector trading, ADR trading, portfolio trading, electronic execution and commission management.

Driven by declining revenues in equity research and increasing investor demand for best-execution strategies, these changes will impact roles in US domestic research, sales, trading, corporate access and associated support functions.

CLSA is Asia’s leading institutional equity brokerage and its research is consistently voted #1 in the region. CLSA remains fully committed to its Asian equity business and will continue to provide award-wining research to global investors. CLSA Americas has one of the largest Asia-sales teams of any brokerage operating in the United States and will continue to offer Asian research and global execution services to US clients. Asia sales and Asia trading teams located in the US will not be impacted by today’s changes.

As CLSA and CITIC Securities International integrate further, new business lines including Fixed Income and Corporate Advisory will broaden and strengthen the CLSA Americas’ platform.

CLSA CEO, Jonathan Slone, said:  “CLSA is committed to providing clients access to insights, liquidity and capital through services most appropriate to their needs. While focused on the client we must also run our business for positive returns.  We remain committed to the United States as a market that offers great opportunity for growth in multiple business lines.”

CLSA Americas CEO, Rick Gould, said: “Since 2009, CLSA Americas has built an outstanding equity research platform with some of the best analysts on the street. Our focus has always been to provide US and global investors differentiated insights on US stocks. While we succeeded in this regard, the economics of providing US equity research have become increasingly challenged. Our focus now is to continue to provide our clients access to liquidity and best execution.”

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About CLSA Limited

CLSA is Asia’s leading and longest running brokerage and investment group. The company provides equity broking, corporate finance & capital markets and asset management services to global corporate and institutional clients.

Renowned for service excellence, product innovation and award-winning market intelligence CLSA has provided independent equity research, sales and trading since 1986. CLSA is the largest agency-only brokerage in Asia and with exchange membership in every developed market in the region, plus Australia and the Americas, CLSA provides best execution across a range of products and services.

The group’s corporate finance and capital markets team leads equity public offerings (primary and secondary), debt issuances and M&A advisory.  Direct investment is offered through diversified, alternative investment vehicles by CLSA Capital Partners.

Headquartered in Hong Kong, CLSA’s 1,500 dedicated professionals operate from 25 cities across Asia, Australia, the Americas and Europe. CLSA’s parent company CITIC Securities is China’s leading investment bank.

For further information, please visit www.clsa.com

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