London/New Delhi/Hong Kong: Religare Capital Markets Limited (RCML), the Investment Banking and Institutional Securities arm of global financial services group and Religare Enterprises Limited have announced their intention to acquire Central Joint Enterprise (CJE) that trades as Aviate Global (Asia), an equities franchise headquartered in Hong Kong.
Religare considers this as a significant step in advancing its drive to become the world’s first integrated platform for emerging markets investment banking and institutional securities, the deal, which remains subject to regulatory approval, adds 30 professionals to RCML’s team in Asia and is looking to develop a full service equities and investment banking business in the region.
Central Joint Enterprises, that trades as Aviate Global (Asia,) has offices in Hong Kong, Singapore and Melbourne. The company has grown since its inception in 2008 through differentiated, ideas-led trading strategies and the long-standing buy-side relationships of the team. In line with RCML’s strategy to add stock coverage in other emerging markets, the Aviate team will provide significant coverage of equities across China, Hong Kong and Singapore.
Commenting on the acquisition Martin Newson, CEO, Religare Capital Markets said, ”I am delighted to be bringing such an impressive team into Religare and add considerable depth to our Asia equities business. Consistent with our view that high-growth developing markets represent the overwhelming opportunity in terms of business flows, we are quickly positioning ourselves to provide the advice and distribution capability that our global investor and corporate client base will require. CJE absolutely stands out for its innovative investment research and exceptional execution capabilities.”
A string of senior appointments are expected to follow the acquisition deal.