SINGAPORE Jan 29 Deutsche Bank and
Thailand's TISCO Securities Co Ltd said on Tuesday they had
formed a joint venture in Bangkok to offer equity research and
advisory services in Thailand.
TISCO Securities, part of TISCO Financial Group,
holds 51 percent of the new venture, Deutsche TISCO Investment
Advisory, and Deutsche Bank holds the remaining 49 percent,
according to a joint statement.
Paiboon Nalinthrangkurn, CEO of TISCO Securities, has been
appointed chief executive officer of the joint venture.
The Thai market is one of Asia's fastest-growing equity
markets, with a total capitalisation of approximately 12
trillion baht ($400 billion) as of Jan. 10, the statement said.
Thailand emerged as one of Southeast Asia's hottest market
for mergers and acquisitions last year as Thai companies spent a
record $27 billion shopping for overseas assets.
($1 = 29.9850 Thai baht)
(Reporting by Saeed Azhar; Editing by Alan Raybould)