Commonwealth Bank Institutional Equities business celebrates its one year anniversary
8 April 2011: The Commonwealth Bank Institutional Banking & Markets (IB&M) division tonight will celebrate the one year anniversary of its Institutional Equities business. Wall Street legend, Jim Rogers, is a keynote speaker at an event in Sydney.
In March 2010, the Institutional Equities business was established to finalise the Bank’s strategy to deliver on its Total Capital Solutions offering in the IB&M business. Total Capital Solutions gives clients access to debt, equity, risk management and transaction banking solutions across the whole balance sheet.
David Hancock, Executive General Manager of Institutional Equities and Debt Capital Markets, Commonwealth Bank said: “For the past 12 months we have focused on the build out of our Institutional Equities business, as we continue to invest in our people to deliver a high quality product that is competitive in the market.
“Since bolstering our research team, we now have more than 35 analysts, covering 85 per cent of the ASX 200 up from 65 per cent at the same time last year. As part of this, we will continue to broaden our team to increase our research coverage to better meet our clients’ needs across: Building Materials; Resources; Food and Beverage; Small Caps; Telecommunications and Transport stocks,” he said.
The Equity Capital Markets team is already having an impact with significant market successes over the past year including acting for entities such as: Clearview Wealth; Goodman Fielder; Norfolk Group; Oil Search; ING Real Estate Entertainment; Colonial Property Office Funds and Colonial First State Retail Property Trust.
Mr. Hancock adds: “We will continue to ‘Deliver the Bank’ to clients with unique insights from the Bank’s expansive footprint in an Australasian context. This is beginning to resonate with our clients through the positive feedback we receive and the gains we continue to make on client panels.
“Institutional Equities research is important to our institutional clients and adds to our strong position with our other clients in debt, transaction banking and risk management products and services, while supporting our clients’ growth in the future,” Mr. Hancock concluded.
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