Deutsche Bank forms JV with Tisco Securities
Deutsche Bank (DB) and Tisco Securities Co have formed a joint venture to offer equity research and advisory services on Thai companies. The research will be issue via Deutsche's global equities research arm.
Tisco Securities, a unit of Tisco Financial Group, will hold a 51 per cent stake in the joint venture called Deutsche Tisco Investment Advisory, with Deutsche Bank owning the remaining 49percent stake, according to a press release from both the companies.
Deutsche TISCO Investment, which will be fully operational this month, serves both institutional investors in Thailand and institutional investors offshore seeking exposure to Thailand’s equity market, which was among the world’s top 10 best-performing stock markets last year.
The German bank and the Thai securities company have established cooperative relationship for years, involving research and overseas roadshows for Thai companies.
To Frank Krings, Deutsche Bank’s chief country officer for Thailand, the joint venture marks another step of both companies’ relationship, which will expand the coverage of services to small and large clients of Deutsche Bank in Thailand. This also shows the bank’s commitment in expanding business in Thailand and accommodating the Asean Trading Link.
The Asean Trading Link, kicked off last year, is the platform allowing cross-transactions of stocks listed in Thailand, Malaysia and Singapore.