Opinion: Citic should reconsider timing of US expansion plan

If Citic Securities is serious about expanding its underwriting services to the US market, it will need to overcome some pretty major anti-Chinese prejudice to succeed – which is a hell of a task considering the rhetoric being used to sway the US public ahead of the presidential election.

  • 20 Feb 2012

Citic Securities’ reported intention to expand into the US is an understandable goal given the business growth opportunities that US business could provide. However it may be best that Citic await more favourable conditions before planning its launch.

Citing sources close to the brokerage firm, The Wall Street ...

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Bookrunners of International Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 7,375.29 34 9.27%
2 HSBC 7,313.51 55 9.19%
3 JPMorgan 6,681.40 32 8.40%
4 BNP Paribas 4,728.46 14 5.94%
5 Deutsche Bank 3,737.63 25 4.70%

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1 Bank of America Merrill Lynch 1,663.44 4 15.44%
2 Morgan Stanley 1,595.10 4 14.81%
3 JPMorgan 1,278.49 5 11.87%
4 Scotiabank 1,050.85 4 9.76%
5 Citi 1,002.40 5 9.31%

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1 Citi 3,884.96 9 15.27%
2 JPMorgan 3,300.70 8 12.98%
3 BNP Paribas 3,266.07 5 12.84%
4 HSBC 2,054.96 8 8.08%
5 Saudi National Commercial Bank 1,604.15 2 6.31%

EMEA M&A Revenue

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 195.08 50 10.55%
2 Goldman Sachs 162.26 37 8.77%
3 Morgan Stanley 141.22 46 7.64%
4 Bank of America Merrill Lynch 114.20 33 6.18%
5 Citi 95.36 35 5.16%

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1 AXIS Bank 85.65 1 100.00%
Subtotal 85.65 1 100.00%
Total 85.65 1 100.00%

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1 Standard Chartered Bank 510.75 4 16.00%
2 State Bank of India 401.68 3 12.59%
2 Citi 401.68 3 12.59%
4 MUFG 330.94 3 10.37%
4 Barclays 330.94 3 10.37%