Osk-Rhb Merged

Topics: Bank, Banking, Investment banks Pages: 2 (713 words) Published: July 14, 2013
OSK-DMG becomes member of RHB banking group
DMG & Partners Securities Pte Ltd (branded as OSK-DMG) is now a member of the RHB banking group, a leading financial services provider in Malaysia.This follows the successful business merger between RHB Investment Bank Bhd (RHBIB) and OSK Investment Bank Bhd (OSKIB) on April 13, 2013.OSK-DMG is a joint-venture between Deutsche Asia Pacific Holdings Pte Ltd (a subsidiary of the Deutsche Bank Group) and OSKIB. With the merger, the 51% stake previously held by OSKIB is now owned by RHBIB.In a statement, Kellee Kam,group managing director of the RHB banking group said RHBIB is now the largest investment bank in Malaysia by assets and one of the largest investment banks in the Asean region.It has a staff strength of over 3,600, shareholders’ funds of over RM2bil and a comprehensive network of close to 100 offices in seven countries across Asean and Hong Kong. RHBIB is one of the top three brokerage houses in Malaysia, with over 1,400 brokers and 60 branches. The point of view:

In order to sustain the successful business merger,one should have leadership and stewardship by ensuring strategic direction and planning.Empowered and accountability are one of the way to sustain it by delegating authority.Service and fairness plays the important role of it as it is a setting an example in corporate social responsibility.In additional,accomplishment and measurement is also important by monitoring and overseeing the management.Besides that,board meetings for the end of year is needed in order to get to know event or task that they are planning,organizing,leading and the cooperative of the employees. OSK-RHB merged entity will be top 3 investment banking group in Malaysia OSK Investment Bank Bhd will bring its expertise in the regional investment banking business and small and mid-cap companies in a merger with RHB Banking Group.Contrary to some views the proposed merger was an overlapping one, the merged entity would be synergistic....
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