Reported about 1 year ago
China International Capital Corp (CICC) is planning to establish offices in Southeast Asian countries like Indonesia and Malaysia to counter a decrease in domestic deal-making. With the economic slowdown in China and Hong Kong affecting CICC's business, the investment bank sees opportunities in Southeast Asia's growing economies and plans to enhance its presence in the region. CICC aims to tap into the rising Chinese outbound investments in Southeast Asia and support local startups and unicorns through private fundraising. The move comes amidst a challenging year for CICC, which has cut banker pay and is considering reducing staffing levels in its main markets.
Source: YAHOO