Citic Securities' gamble on CLSA

Citic Securities faces a steep learning curve as it takes a big step on to the global stage with the acquisition of CLSA, according to our latest web poll.

Citic Securities' gamble on CLSA

Buying an investment bank is a notoriously difficult task, so we asked our readers last week what chance they gave to Citic Securities acquisition of CLSA, the respected Hong Kong-based broker.

The Chinese investment bank is paying just over $1.25 billion in the first big acquisition of a foreign broker by a Chinese competitor. It will be a challenging integration. CLSA, founded by two former journalists, has gained a reputation for strong, independent...

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