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
An example of CLSA's quirky research

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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