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"The best way to fight an enemy is head on- and out in the open."
Founded in 1986, CLSA (Credit Lyonnais Securities Asia) has its headquarters
in Hong Kong and offices or representatives in 15 cities across the Asia-Pacific
region, as well as Amsterdam, Boston, Chicago, New York, London and San
Francisco. CLSA was majority owned (65%) by Crédit Agricole, France’s largest
retail-banking group, who sold CLSA to CITIC Securities, China's largest
brokerage in July 2013.
CLSA was founded by two former business journalists, Jim Walker (1949–2004) and Gary Coull (1954–2006). In September 2006, one month before he died, Coull was named one of the 50 most influential people in Asian financial history by FinanceAsia magazine.
With headquarters in Hong Kong, CLSA has offices or representatives in 21 other cities around the world: Sydney (Australia), Beijing, Shanghai and Shenzhen (China), Mumbai and Pune (India), Jakarta (Indonesia), Tokyo (Japan), Seoul (Korea), Kuala Lumpur (Malaysia), Port Louis (Mauritius), Manila (Philippines), Singapore (Singapore), Taipei* (Taiwan), Bangkok (Thailand), London (United Kingdom), Amsterdam (Netherlands) Boston, Chicago, New York and San Francisco (United States of America). Its 1,850 staff include more than 150 analysts covering 1,200 Asian companies across 13 sectors.
In Taipei, CLSA is represented by Credit Agricole Securities Taiwan
CLSA was majority owned (65%) by Crédit Agricole, France’s largest retail-banking group, with the remainder held by staff, until 2012. That year, Crédit Agricole sold a 19.9 percent stake to the Chinese firm CITIC Securities. On July 31, 2013, CITIC Securities acquired the remaining 80.1% of CLSA from Crédit Agricole to become the majority shareholder of CLSA.
The CITIC Group (Chinese: ????????, Zhongguó Zhongxìn Jítuán Gongsi), formerly the China International Trust and Investment Corporation, is a state-owned investment company of the People's Republic of China, established by Rong Yiren (???) in 1979 with the approval of Deng Xiaoping. Its headquarters are in Chaoyang District, Beijing.
Its initial aim was to "attract and utilize foreign capital, introduce advanced technologies, and adopt advanced and scientific international practice in operation and management." It now owns 44 subsidiaries including China CITIC Bank, CITIC Holdings, CITIC Trust Co. and CITIC Merchant Co., Ltd (mainly banks) in China, Hong Kong, the United States, Canada, Australia and New Zealand.
CITIC Group is considering a $12 billion listing in Hong Kong.
It was reported on September 17, 2008, that CITIC was in talks to acquire Morgan Stanley. Instead Morgan sold a substantial portion of their company to Mitsubishi UFJ Financial Group in addition to applying for $10 billion from the Treasury Department as part of the $700 billion Troubled Asset Relief Program.
Its subsidiary, CITIC Pacific, made unauthorized bets on the foreign currency market in October 2008 and lost HK$14.7 billion (US$1.9 billion, when accounted for in mark-to-market terms). Senior executives such as Financial Controller Chi Yin Chau and Group Finance Director Leslie Chang resigned. Its stock price plunged 55.1 percent upon the resumption of trade.
Industry Investment company
Founders Rong Yiren
Headquarters Beijing, People's Republic of China
Area served People's Republic of China
Key people Chang Zhenming (Chairman)
Products Financial Services, Banking
Owners Central People's Government
Divisions 44 subsidiaries