Kasikornbank forges alliance with Macquarie Group

Kasikornbank has struck the exclusive strategic alliance with Macquarie Group, Australia's biggest investment banker, in its bid to improve securities services to Thai clients.

Under the cooperation, they will share information on mergers and acquisitions, broking service for institutional investors, and securities research.

"From now on, in the borderless world, financial institutions need to enhance their competitiveness in responding to demands of all target groups," said KBank CEO and President Banthoon Lamsam.

He noted that Macquarie Group’s global existence will deepen and widen financial services to the bank’s customers in Thailand.

"We believe that the cooperation will enable us to develop financial products and services, which will leapfrog the domestic and international financial industry," he added.

Nattarin Talthong, executive chairwoman of Kasikorn Securities Plc - the brokerage arm of the banking group, said that the alliance with the Australian powerhouse would be another step in growing the company’s business. She particularly expects the alliance to benefit Thai and international companies in terms of M&A and business expansion. She said that with in-depth research, Kasikorn Securities would be among the top 3 in terms of market share.