A fledgling SAR-based financial conglomerate backed by China's State Council has outlined plans to set up a financial services platform capable of rivalling top investment banks and blazing an acquisition trail.
Laying out future directions following a recent revamp, Citic International Financial Holdings (CIFH) chief executive Chang Zhenming yesterday said its focus would be on three areas: commercial banking, investment banking and asset management.
'We want to provide one-stop shopping or the so-called financial supermarket-like concept of services targeting the booming China, Hong Kong and Taiwan [markets],' he said.
Investment banking would expand to become a key growth engine of the company, despite its relative small contribution at the moment, Mr Chang said.
He said the company wanted to rival the likes of mainland-backed investment banks including China International Capital and BOC International.
'We can leverage on our parental famed brand and extensive businesses and connections in China to do cross-selling,' he said of China International Trust and Investment Corp (Citic).