Standard Chartered buys Cazenove Asia

Standard Chartered acquires the firm for an undisclosed sum, adding to its equity brokerage capabilities, capital markets expertise and China coverage.

Standard Chartered Bank Hong Kong, a subsidiary of Standard Chartered, will buy 100% of brokerage firm Cazenove Asia on financial terms which have been withheld. The deal, which is subject to regulatory approvals and is expected to be completed in the first quarter of 2009, strengthens Standard Chartered's position across the spectrum of equities products.

Cazenove is a British brokerage firm whose origins can be traced back to 1823. It opened its first...

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