We are pleased to announce the successful completion of the acquisition of BESI by Haitong Securities, one of China’s largest and oldest investment banking and securities firms.
Today marks a positive new beginning that brings together two complementary businesses with a single ambition of developing in to a world leading investment Bank. As of today, BESI will be named as Haitong Bank, S.A. and rebranded as Haitong.
With a strong presence in Asia, we will now have access to the adequate capital and resources to strengthen and expand our operations in the EMEA region, India and in the Americas. The successful completion is a great opportunity to strengthen our franchises in research, equities, fixed income, asset management, wealth management, derivatives, investment banking and structured finance.
Additionally, Haitong Securities has a BBB rating from S&P and it's avaluable Asian expertise will allow us to originate cross-border business in mergers and acquisitions, equity and debt capital markets. The acquisition will also be a critical element to fulfil our ambition to develop a robust UK and US platforms to provide Clients globally with access to capital and liquidity.
We are delighted to be working closely with our new shareholder and look forward to working together as we strive to become one of the world’s leading financial institutions.