New opportunity for U.S. Institutional Investors to trade in Southeast Asian markets to commence in March 2023
LOS ANGELES, February 23, 2023–(BUSINESS WIRE)–Wedbush Securities Inc., one of the nation’s leading diversified financial services firms, has entered into an agreement to form a transpacific trading alliance with Maybank, the fourth most valuable bank brand in the ASEAN region as of December 31, 2022. Wedbush and Maybank have signed a 15a-6 Chaperone agreement that will allow U.S. institutional investors to trade in Southeast Asian markets (“PacRim”) such as Hong Kong, India, Indonesia, Malaysia, Singapore, Thailand, The Philippines, and Vietnam.
Wedbush CEO, Gary Wedbush, remarked, “Wedbush is excited to enter into an alliance with Maybank to pursue our PacRim strategy. Maybank impressed us not only with its network and reach, but also its people, who are highly skilled, collaborative, and customer centric. We believe together we can distinctively serve investors and corporates who care about PacRim opportunities.”
The alliance will provide Wedbush customers with research and market insights from the leading home-grown investment bank in ASEAN. The bank has been recognized as Best Broker in Southeast Asia for nine consecutive years by Alpha Southeast Asia.
As part of the alliance, which is intended to be open for trading on March 1, Jean-Louis Lee and Joe Borruso will join Wedbush Securities as Managing Directors. The two executives will be located in Wedbush Securities’ New York office as part of the firm’s Investment Banking & Capital Markets Division.
About Wedbush Securities
Wedbush Securities is the largest subsidiary of Wedbush Financial Services. Since its founding in 1955, Wedbush has been a leader in the financial services industry, providing our clients, both private and institutional, with a wide range of securities brokerage, wealth management, and investment banking services. Headquartered in Los Angeles, California with 100 registered offices and nearly 900 colleagues, the firm focuses on client service and financial safety, innovation, and the utilization of advanced technology.
About Maybank
Maybank is among Asia’s leading banking groups and Southeast Asia’s fourth largest bank by asset. The Maybank Group has an international network of over 2,600 offices in Malaysia, Singapore, Indonesia, Philippines, Cambodia, Thailand, Vietnam, Myanmar, Brunei, Laos, India, China, UK, USA, Pakistan, Saudi Arabia, Uzbekistan and Dubai. The Group offers an extensive range of products and services, which includes consumer and corporate banking, investment banking, Islamic banking, stock broking, insurance and takaful and asset management. It has over 42,000 employees worldwide. (www.maybank.com)
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