Hubbry Logo
CLSACLSAMain
Open search
CLSA
Community hub
CLSA
logo
8 pages, 0 posts
0 subscribers
Be the first to start a discussion here.
Be the first to start a discussion here.
CLSA
CLSA
CLSA
View on Wikipedia
from Wikipedia

CLSA Ltd. (formerly known as Credit Lyonnais Securities Asia) is a capital markets and investment group focused on alternative investment, asset management, corporate finance and capital markets, securities and wealth management for corporate and institutional clients.[1]

Key Information

Founded in 1986 by two former journalists, CLSA has its headquarters in Hong Kong and offices or representatives in 20 cities across the Asia-Pacific region, as well as Amsterdam, London and New York. In 2013, CITIC Securities, China's largest investment bank acquired CLSA for US$1.3 billion.

History

[edit]

In 1986, Winfull Laing & Cruickshank Securities began operations in Hong Kong, with former business journalist Jim Walker as chairman. The small brokerage was a 50-50 joint venture between the Woo Hon Fai family and Alexander Laing & Cruickshank.

The following year, Crédit Lyonnais acquired Alexander Laing & Cruickshank and, after various iterations, Walker's start-up emerged in 1989 as Credit Lyonnais Securities Asia (CLSA).

In 2003 Crédit Lyonnais, including CLSA, was acquired by Crédit Agricole, France's largest retail banking group, and CLSA remained part of Crédit Agricole until 2012. That year, Crédit Agricole sold a 19.9 percent stake to the Chinese firm CITIC Securities.[2] On July 31, 2013, CITIC Securities acquired the remaining 80.1% of CLSA from Crédit Agricole and CLSA became wholly owned by Citic Securities.

Controversies that have hit the firm include the Securities and Futures Commission reprimand in May 2004; Asiamoney “vote-rigging” email in 2005; and Allen Lam insider-trading conviction in July 2009.[3][4][5]

Locations and staffing

[edit]

With headquarters in Hong Kong, CLSA has over 3,000 staff located in 21 cities across Asia, Australia, Europe and the United States.

Investors' Forum

[edit]

In 2018, around 1,500 CEOs and CFOs from more than 570 corporations attended CLSA Forums to present to and meet with more than 1,900 institutional investors around the globe, while almost 5,200 private meetings were held.[citation needed]

CITIC-CEFC bond scandal

[edit]

In November 2016, CITIC CLSA acted as the sole bookrunner for CEFC Shanghai's US$250 bond issuance. CITIC CLSA hid from the market that the bond deal was only 60% subscribed at pricing. It manipulated the bond price in the secondary market in an effort to offload the 100mm USD bond CITIC CLSA held on its balance sheet.[6]

In May 2018, CITIC Group announced they would repay ca 450 million euros owed by CEFC Europe to finance and banking group J&T within days but since the debt was not paid a week later, J&T announced it had taken over shareholder rights and installed crisis management at CEFC Europe.[7][8] Several days later, CEFC Shanghai defaulted on $327 million in bond payments, and offered to make the payments six months after the maturity date.[9]

To this day, CEFC Shanghai still hasn't paid the $327 million in bond payments. In October 2020, some retail CEFC bondholders in Hong Kong filed a complaint to the Securities and Futures Commission in Hong Kong against the bond's sole underwriter CITIC CLSA. The letter claims that CITIC CLSA had "blatantly" violated SFC's rules and regulations, committed deception and market manipulation and blatantly violated SFC's Conflict of Interest rules.[10]

References

[edit]
[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

CLSA

View on Grokipedia
from Grokipedia
CLSA Ltd., commonly known as CLSA and now operating as CITIC CLSA, is an Asia-focused capital markets and investment group headquartered in that provides brokerage, , capital markets advisory, and services to institutional investors, corporations, governments, and high-net-worth individuals across the globe. Established in 1986 as Credit Lyonnais Securities Asia by the French bank , CLSA initially built its reputation as an independent brokerage firm specializing in emerging n markets, leveraging deep regional insights and research to connect global investors with opportunities in the region. In 2003, acquired , including CLSA, while maintaining its focus on alternative investments and equity research. A pivotal shift occurred in 2013 when , China's largest securities firm, completed its acquisition of the remaining 80.1% stake in CLSA from for approximately $841 million, making it a wholly-owned and integrating it as CITIC's primary overseas platform for international expansion. This ownership structure has enabled CLSA to combine its longstanding Asian expertise with CITIC's vast domestic resources, enhancing its capabilities in cross-border transactions and global equities. Today, CITIC CLSA operates offices in 13 countries across , , , and the , employing a team renowned for its award-winning equity research that covers macroeconomic trends, sector analysis, and company-specific insights to drive investment strategies. The firm plays a key role in facilitating capital raising, , and liquidity provision, particularly in high-growth sectors like technology, consumer goods, and , while also supporting community initiatives through its CSI Trust philanthropy arm.

History

Founding and Early Development

CLSA was established in in 1986 as Winfull Laing & Cruickshank Securities, formed by a that included the UK-based Laing & Cruickshank and local partners such as Winfull Securities, with former business journalist Jim Walker serving as a key founder and chairman. The firm emerged during a period of rapid growth in Asian financial markets, positioning itself to capitalize on the region's emerging opportunities. From its , Winfull Laing & Cruickshank Securities concentrated on brokerage services and equity targeted at Asian emerging markets, providing institutional investors with access to high-growth sectors in and surrounding areas. This early emphasis on localized insights helped differentiate the firm in a competitive dominated by Western institutions. In 1989, the French bank Crédit Lyonnais acquired the brokerage, leading to its rebranding as Credit Lyonnais Securities Asia (CLSA) and enabling significant expansion into equities trading and products across Asia. Under this ownership, CLSA strengthened its operational base in while extending its reach to other regional hubs. During the early , CLSA achieved key milestones, including early entry into mainland 's markets through research and brokerage activities that anticipated cross-border integration, such as identifying economic shifts between and as early as 1990. The firm also invested heavily in building robust research capabilities, hiring sector specialists to produce in-depth reports on Asian equities and macroeconomic trends, which became a cornerstone of its reputation. These developments laid the groundwork for CLSA's growth before subsequent ownership changes in the late .

Ownership Transitions

In 1990, CLSA became a wholly owned subsidiary of the French bank Crédit Lyonnais, marking its full integration into a major European banking network and infusing its Asian operations with structured European financial expertise and resources. This shift strengthened CLSA's position in emerging markets research and brokerage, allowing it to leverage Credit Lyonnais's global reach while maintaining a focus on equities and capital markets. The European influence facilitated expanded coverage of cross-border transactions and enhanced credibility among institutional investors, though it also introduced more formalized oversight compared to its earlier entrepreneurial roots. The ownership landscape changed significantly in 2003 when Crédit Agricole acquired Credit Lyonnais, thereby bringing CLSA under the umbrella of the larger French banking group. This merger provided CLSA with stabilized funding sources and access to Crédit Agricole's extensive retail and corporate banking infrastructure, enabling greater integration of services across and . In response, CLSA rebranded as CLSA Asia-Pacific Markets to reflect its broadened scope, which supported sustained growth in research-driven advisory and trading activities during a period of post- recovery. A pivotal transition occurred in 2012 when China's , the country's largest brokerage firm, acquired a 19.9% stake in CLSA for US$310.3 million, introducing significant Chinese state-backed influence into its governance and strategic direction. This partial stake purchase, the maximum allowable without triggering a full under regulatory thresholds, positioned CITIC to gain international expertise in Asian markets while allowing CLSA to tap into China's burgeoning capital flows and client base. The move signaled a strategic pivot toward Sino-European synergies in . The acquisition process culminated in 2013, when completed the purchase of the remaining 80.1% stake from for US$841.7 million, valuing the entire firm at approximately US$1.15 billion and establishing CLSA as a wholly owned . This full ownership transition rebranded the entity as CITIC CLSA, integrating it as CITIC's primary overseas platform for global capital markets and research, which enhanced its capabilities in cross-border deals involving while preserving operational independence in non- markets.

Post-2013 Integration and Expansion

Following the 2013 acquisition of CLSA by , the integration period from 2013 to 2016 presented notable challenges, including cultural clashes between CLSA's independent brokerage heritage and CITIC's state-influenced operational model. These tensions manifested in internal conflicts over corporate values and staff expectations, leading to bruised egos and reduced bonuses among employees adapting to the new structure. Despite initial expectations of significant friction, the merger proceeded relatively smoothly in operational terms, though the shift toward greater alignment with Chinese state priorities marked a fundamental transformation in CLSA's identity. In 2017, CLSA shut down its operations, including its U.S. equity research unit, resulting in the dismissal of approximately 90 employees to streamline focus on the region. This move, affecting research sales support and related functions, underscored CITIC's strategy to concentrate resources in core markets amid post-acquisition restructuring. By 2023, CLSA announced plans to expand its investment banking team, aiming to double its headcount over the next five years to capitalize on regional growth opportunities. This initiative reflected renewed confidence in the area's potential despite broader market headwinds. However, in 2024, CLSA implemented base salary reductions of up to 30% for more than 100 bankers, driven by diminished deal activity and cost-control measures aligned with Beijing's regulatory push on compensation. These cuts, ranging from 10% to 30% and affecting around 110 staff, deviated from industry norms and highlighted ongoing pressures in the sector. As of November 2025, the firm experienced further talent attrition with the departure of three senior investment bankers, contributing to a pattern of exits amid persistent integration and market challenges.

Business Operations

Core Services and Products

CLSA provides a comprehensive suite of capital markets services tailored to institutional investors, corporations, and governments across the Asia-Pacific region, leveraging its deep market expertise and integration with . Its core offerings encompass institutional equities, , fixed income and derivatives, and alternative investments, all designed to facilitate capital raising, , and strategic advisory in dynamic emerging markets. These services are supported by a robust global staffing infrastructure that ensures seamless execution and client coverage. In institutional equities, CLSA delivers award-winning equity research, , and trading capabilities, with the largest on-the-ground specialist teams covering 13 Asian markets. The firm's research is renowned for its differentiated insights into regional economies and sectors, drawing from an expansive network spanning 16 markets and direct access to Chinese markets through its parent company. Sales and trading activities focus on execution services for equities, including broking in key exchanges, with a strong emphasis on Asia-Pacific opportunities such as and Australian markets. CLSA's investment banking division offers end-to-end advisory and capital markets services, including (M&A) advisory, (IPO) underwriting, and debt issuance. The team structures cross-border transactions, providing M&A advice and facilitating equity capital markets (ECM) deals. In FY2023, CLSA ranked #1 ECM bookrunner in ex-Japan with USD 42.2 billion in underwriting value, #1 underwriter among Chinese securities for offshore China bonds with USD 1.2 billion, #3 global coordinator for HK ECM with USD 847 million, and #4 financial advisor for ex-Japan M&A with USD 130.2 billion in deal value. Debt issuance capabilities include investment-grade and high-yield bonds, syndicated loans, and solutions, enabling clients to access international funding efficiently. The firm also manages alternative investments through CLSA Capital Partners, a pioneer in Asian with nearly 40 years of experience since CLSA's founding in 1986, focusing on growth equity, mid-market buyouts, and strategies. This arm supports a diverse base of over 200 limited partners and remains active, as demonstrated by its July 2025 investment of US$36.6 million in K-Beauty firm Jungsaemmool Beauty, investing in sectors like business services, consumer goods, and . Additionally, CLSA's fund services platform provides one-stop solutions for alternative strategies, including , hedge funds, , and infrastructure funds, catering to institutional needs for diversified portfolios. In , currencies, commodities (FICC), and , CLSA offers products customized for institutional clients, including primary issuance, secondary making, and structured solutions in , rates, and (FX). The equity (EQD) desk provides tools, yield enhancement products, financing options, and cross-border access, often linked to equities, indices, and instruments. These offerings are complemented by over-the-counter (OTC) options on rates, , and futures, ensuring tailored hedging and strategies. A notable highlight in is CLSA's role in underwriting 40 overseas environmental, social, and governance (ESG) bonds in 2023, raising a total of US$13.25 billion, and in 2024, mobilizing over US$21.98 billion through 86 ESG-themed offshore bond issuances, underscoring its commitment to , social, and sustainability-linked issuances.

Global Presence and Staffing

CLSA is headquartered in at One Pacific Place, serving as the central hub for its operations across and beyond. The firm maintains a global footprint in 13 countries, with 17 offices strategically located in key financial centers throughout , , and the . These include major locations in , , , and , which function as regional hubs for coordinating , equities, and research activities tailored to local markets. In , CLSA operates offices in and to facilitate cross-border transactions and client engagement with European institutions, while its U.S. presence remains limited to offices in New York and following the closure of its domestic equity research unit. This streamlined structure supports CLSA's focus on Asia-centric services, enabling efficient global distribution for institutional investors. The company employs approximately 2,500 staff worldwide, with a significant portion dedicated to core functions in research and . CLSA's workforce emphasizes diversity and multilingual capabilities, drawing on deep local expertise to navigate complex Asian markets and provide insights into regional economic dynamics. Its division alone comprises over 120 analysts covering more than 1,300 companies across key sectors. However, in late 2025, the firm experienced notable departures in its team, including three senior bankers, which has affected staffing in that high-growth area.

Key Events and Programs

Investors' Forum

The Investors' Forum is CLSA's flagship annual conference, established in the and held each September in , where it has grown into one of Asia's premier Asia-focused investor gatherings, attracting global institutional investors, corporate leaders, and industry experts for discussions on regional markets and economic trends. Originally launched as a platform for equity investors to engage with Asian companies, the event expanded in 1999 to a five-day format, incorporating more participants and meetings to enhance networking and insight-sharing. The forum's format typically includes keynote speeches, corporate presentations, panel discussions on key research themes such as and , and extensive one-on-one and group meetings to connect investors with executives. It plays a central role in fostering corporate-investor relationships by providing direct access to decision-makers and delivering timely market intelligence on Asia's economic landscape. The 25th edition in 2018, held from 10 to 14 at the Grand , brought together senior executives from nearly 260 leading regional companies and over 1,500 investors from around the world, facilitating thousands of hours of multilevel meetings. The 32nd edition, conducted from 8 to 11 2025 at the same venue, gathered over 1,600 investors and 1,000 senior executives representing more than 380 global companies, with a focus on transformative topics like AI, US-China relations, and Asia's economic role amid protectionist policies.

Research Initiatives and Publications

CLSA has established itself as a leading provider of Asia-specific equity research, offering in-depth analysis on , sectors, and to guide global investors. With a team of over 120 analysts across 16 markets, the firm emphasizes independent insights derived from on-the-ground expertise, covering macroeconomic trends, 18 key sectors such as and , and geopolitical developments shaping Asian investment landscapes. Among its landmark publications, CLSA released "The Vanishing Border" in 1990, a pioneering report that foresaw the deepening economic integration between and , highlighting a in the global economy well before the 1997 handover. In 2004, the firm published "Boomtown: Re-enter the Dragon," which examined 's post-handover economic resurgence driven by its role as a gateway to , influencing forecasts on regional growth and urban development. CLSA produces annual publications, including sector outlooks that provide forward-looking assessments of industry trends and opportunities across , as seen in its 2021 consumer sector report and 2025 Indian equities outlook. The firm also issues sustainability reports, such as the 2023 International Sustainability Report, which integrates ESG factors into analysis through collaborations on climate and assessments. These research outputs have significantly shaped investor sentiment in Asian markets; for instance, CLSA's pre-2013 warnings on vulnerabilities in Chinese financial prompted caution among global investors amid rising concerns over sector stability. The firm's reports are frequently ranked among the best in for their actionable ideas, often serving as early indicators of regional trends that influence portfolio decisions.

Pre-2013 Regulatory Matters

In 2004, the (SFC) of reprimanded CLSA Limited following an investigation into deficiencies that enabled a former employee, Yeung Tsz Chung, to misappropriate over HK$22 million in client assets between and 2002. The inquiry, prompted by CLSA's internal discovery and conducted jointly with an independent accounting firm, revealed inadequate segregation of duties, insufficient monitoring of employee activities, and poor record-keeping practices that allowed Yeung to make unauthorized transfers and false entries in client accounts. As a result, CLSA was required to compensate affected clients fully and implement remedial measures, including enhanced segregation of duties and improved audit trails, while Yeung's was revoked in 2003 and he was later convicted and sentenced to 42 months' imprisonment. That same year, the SFC suspended Howel G. R. , a licensed representative at CLSA Futures Ltd., for three months due to manipulative trading practices in futures contracts. The suspension stemmed from an SFC probe that found had engaged in unauthorized wash trades and other activities designed to create artificial market activity, violating conduct rules under the Securities and Futures Ordinance. This action highlighted early concerns over trading at CLSA affiliates and contributed to broader of the firm's compliance framework during the mid-2000s. A significant escalation occurred in 2009 when Allen Lam Kar Fai, a former director of at CLSA Equity Capital Markets Ltd., was convicted of insider dealing under section 291 of the Securities and Futures Ordinance. The case originated from events in May 2005, when Lam tipped off fund manager Ryan Fong Wai Hung about an impending acquisition of a controlling stake in Media Chinese International Ltd., allowing Fong to purchase shares at an advantageous price before the . Both pleaded guilty in 2009; Lam received a six-month sentence and a HK$69,000 fine, while Fong was sentenced to nine months' imprisonment and fined HK$1.38 million. The SFC subsequently banned Lam from the industry for life in November 2009, citing the breach's severity despite no direct financial gain by Lam. These pre-2013 incidents collectively exposed vulnerabilities in CLSA's oversight of employee conduct, trading activities, and information handling, prompting the firm to bolster internal controls such as stricter compliance monitoring and staff training protocols in the lead-up to its 2013 acquisition by . The SFC's actions underscored the regulator's focus on maintaining market integrity in Hong Kong's financial sector during CLSA's independent operations phase.

CITIC-CEFC Bond Scandal

In November 2016, CLSA served as the sole bookrunner for a US$250 million three-year bond issuance by CEFC Shanghai International Group, a subsidiary of the Chinese energy conglomerate Co. The deal targeted international investors through a roadshow in , where CLSA promoted the bonds as backed by strong assets, including oil and gas reserves, amid CEFC's aggressive expansion. However, allegations later emerged that CLSA conducted inadequate due diligence and misrepresented the involvement of CEFC's chairman, , who was portrayed as a low-profile figure despite his central role in the company's opaque operations. Bondholders accused CLSA of concealing that affiliates, including CLSA itself, had subscribed to approximately 40% of the issuance, creating a false impression of broad demand. Further claims involved manipulation of prices post-issuance, where CLSA allegedly supported trading to inflate perceived liquidity and attract additional buyers, violating disclosure requirements under securities rules. These practices were said to have deceived retail and institutional s into purchasing the high-yield bonds, which carried significant risks tied to CEFC's aggressive debt-fueled acquisitions. The scandal intensified in 2018 following CEFC's collapse, triggered by Ye Jianming's in March on suspicion of economic crimes, leading to defaults on the company's outstanding bonds, including the 2016 CLSA-underwritten issuance, as recovery efforts faltered. The conglomerate's intricate web of affiliates unraveled, revealing inflated trade figures and fraudulent loans that had propped up its expansion, leaving bondholders with substantial losses. In December 2020, affected bondholders, including retail investors, filed a formal complaint with Hong Kong's (SFC), alleging deception in the bond's marketing and structuring. This was amplified in March 2021 when Kathy Liu, a former CLSA managing director and head of debt capital markets who had personally invested nearly US$1 million in the bonds, publicly accused the firm of "blatant" misbehavior, including faulty and conflicts of interest in the process. Liu's disclosures, detailed in a complaint co-filed with other bondholders on January 13, 2021, described the deal as a "shocking sequence of blatant ." The SFC formally launched an investigation into CLSA's conduct in June 2021, focusing on potential breaches of rules in the bond sale. CLSA denied the allegations, stating it prioritizes client interests and cooperates with regulators. As of November 2025, the SFC probe remains unresolved publicly, with no reported enforcement actions or settlements, underscoring persistent regulatory risks in bond deals linked to Chinese entities amid heightened scrutiny of cross-border finance.

References

  1. https://www.clsa.com/about/
  2. https://www.institutionalinvestor.com/article/2bsvlkgeipktud1fydm9s/portfolio/citic-securities-set-to-acquire-clsa
  3. https://www.crunchbase.com/organization/clsa
  4. https://www.credit-agricole.com/en/news-channels/the-channels/newsflash/hong-kong-one-of-credit-agricole-s-oldest-foreign-business-locations
  5. https://www.reuters.com/article/markets/citic-securities-says-completes-acquisition-of-clsa-idUSL4N0G138V/
  6. https://www.group.citic/en/Diversified_Portfolio/Financial_Business/Securities/
  7. https://www.euromoney.com/article/27bjsstsqxhkmh1wmk61d/capital-markets/asia-the-strange-case-of-clsa/
  8. https://www.scmp.com/business/money/markets-investing/article/1031678/clsa-and-state-independence
  9. https://fundsglobalasia.com/china-s-citic-unit-in-european-property-play/
  10. https://www.acga-asia.org/upload/files/conference_report/2001_Conference_Report.pdf
  11. https://www.clsa.com/special/IF2019/images/IF19-brochure-OURSTORY-web.pdf
  12. https://www.bloomberg.com/news/articles/2012-07-20/citic-says-it-will-buy-credit-agricole-s-clsa-for-1-25-billion
  13. https://www.wsj.com/articles/SB10000872396390444330904577538492866907100
  14. https://www.reuters.com/article/markets/citic-securities-says-completes-acquisition-of-clsa-idUSL4N0G13M4/
  15. https://www.reuters.com/article/markets/asia/credit-agricole-seals-125-billion-broker-sale-to-citic-idUSBRE8A40RQ/
  16. https://www.credit-agricole.com/en/press-releases/citic-securities-company-limited-and-credit-agricole-corporate-and-investment-bank-are-pleased-to-jointly-announce-the-completion-of-the-sale-and-p
  17. https://www.caixinglobal.com/2020-07-25/citic-securities-plans-15-billion-charge-up-for-its-clsa-global-unit-101584699.html
  18. https://www.scmp.com/business/banking-finance/article/3018018/china-has-big-headache-bashing-citic-securities-clsa
  19. https://www.globalcapital.com/article/28msst89yrugqiukax1rv/asia/clsa-stands-on-the-shoulders-of-citic
  20. https://www.bloomberg.com/news/articles/2017-02-27/china-s-clsa-brokerage-shuts-down-u-s-equity-research-operation
  21. https://www.nytimes.com/2017/02/27/business/dealbook/clsa-shutdown-stock-research-us.html
  22. https://www.bloomberg.com/news/articles/2023-03-14/clsa-to-double-southeast-asia-investment-bank-team-in-five-years
  23. https://www.straitstimes.com/business/clsa-to-double-southeast-asia-investment-bank-team-in-five-years
  24. https://www.reuters.com/world/china/chinas-citic-cuts-clsa-offshore-banker-base-pay-by-up-30-sources-say-2024-06-05/
  25. https://www.caproasia.com/2024/06/07/china-citic-securities-cuts-salaries-by-10-to-30-of-110-staff-at-offshore-investment-banking-subsidiary-clsa-hong-kong-china-citic-had-cut-investment-banking-salaries-in-mainland-china-by-15-in-2023/
  26. https://www.bloomberg.com/news/articles/2025-11-06/three-senior-clsa-bankers-are-said-to-leave-firm-as-exits-mount
  27. https://www.clsa.com/services/institutional-equities/
  28. https://www.clsa.com/services/research/
  29. https://www.clsa.com/global-2/asia/
  30. https://www.clsa.com/services/corporate-finance/
  31. https://www.clsa.com/capital/
  32. https://www.clsa.com/services/alternative-investment-management/
  33. http://www.clsacapital.com/
  34. https://www.clsa.com/services/fund-services/
  35. https://www.kedglobal.com/mergers-acquisitions/newsView/ked202507040004
  36. https://www.clsa.com/services/ficc/
  37. https://www.clsa.com/services/eqd/
  38. https://www.cs.ecitic.com/newsite/en/ourBusiness/ficcBusiness/
  39. https://www.cs.ecitic.com/newsite/en/news/news1/202406/P020240606639026490689.pdf
  40. https://www.clsa.com/wp-content/uploads/2025/09/CITIC-Securities-International-Sustainability-Report-2024.pdf
  41. https://www.clsa.com/global-2/office-locations/
  42. https://rocketreach.co/clsa-profile_b5c464f8f42e0dc2
  43. https://www.clsa.com/special/IF25th/
  44. https://www.clsa.com/special/IF2018/images/IF18-brochure.pdf
  45. https://www.clsa.com/the-32nd-investors-forum-in-hong-kong-from-8-11-september/
  46. https://www.wsj.com/articles/SB108990944256464803
  47. https://www.scribd.com/document/937216137/CLSA-Sector-Outlook-Consumer-5-Dec-2021-CPRO-Not-Rated
  48. https://www.linkedin.com/posts/clsa_outlook-2025-indian-equities-set-up-in-2025-activity-7283326884270981121-bXL8
  49. https://www.clsa.com/wp-content/uploads/2024/10/CITIC-Securities-International-Sustainability-Report-2023.pdf
  50. https://m.economictimes.com/markets/stocks/news/clsas-five-year-plan-shows-communist-china-is-in-charge/articleshow/78098590.cms
  51. https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=04PR92
  52. https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=03PR93
  53. https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=04PR34
  54. https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=09PR96
  55. https://www.reuters.com/article/markets/funds/former-clsa-banker-hk-fund-manager-jailed-for-insider-trading-idUSHKG103452/
  56. https://www.bloomberg.com/news/articles/2009-07-20/hong-kong-fund-manager-jailed-for-insider-trading
  57. https://apps.sfc.hk/edistributionWeb/api/news/list-content?refNo=09PR165&lang=EN
  58. https://www.bloomberg.com/news/articles/2021-06-17/hong-kong-investigates-clsa-bond-deal-after-investor-complaints
  59. https://www.thewirechina.com/2021/05/30/broken-bonds/
  60. https://www.caixinglobal.com/2021-03-11/ex-clsa-banker-accuses-firm-of-wrongdoing-on-chinese-bond-deal-101673949.html
  61. https://news.bloomberglaw.com/securities-law/hong-kong-investigates-clsa-bond-deal-after-investor-complaints
  62. https://www.reuters.com/article/business/cefc-shanghai-international-defaults-on-327-million-in-bond-payments-idUSKCN1IM12U/
  63. https://www.caixinglobal.com/2018-05-30/murky-picture-behind-chinas-bond-defaulter-101259066.html
  64. https://www.bloomberg.com/news/articles/2021-03-10/ex-clsa-banker-accuses-firm-of-wrongdoing-on-chinese-bond-deal
Add your contribution
Related Hubs
User Avatar
No comments yet.