CITIC sets to become first China firm to lead Asia equity rankings

CITIC sets to become first China firm to lead Asia equity rankings

CITIC Securities is poised to become the first Chinese firm to lead annual equity markets (ECM) rankings for Asia-Pacific excluding Japan this year.  

Goldman Sachs, Morgan Stanley, and other Western banks have traditionally battled over the top position in the region, where ECM activity averages an oversized 34% of the investment banking fee pool compared with the 25% average globally.

CITIC Securities, which is China’s biggest brokerage, has won $15.7 billion in credit this year so far from deals between them and Hong Kong-based unit CLSA.

In comparison, Goldman has $15.4 billion in credit, while China International Capital Corp (CICC) has $14.7 billion, and Morgan Stanley with $14.3 billion.

In the last year, Goldman stood in first while CITC Securities was seventh.