CLSA India operations hit as Citic tightens grip, India-China ties sour

Parent Citic seeks to take full control of the Hong Kong-based brokerage

CLSA India is yet to make a mark on the investment banking league tables this year. Sources say the restructuring exercise undertaken by parent Citic Securities coupled with worsening ties between India and China have hurt operations.

State-owned Citic is looking to tighten its grip on the Hong Kong-based brokerage by taking full control of key divisions.

“Citic Securities has decided to integrate CLSA’s corporate finance and capital markets business into its own, to reflect its strategy and market positioning. All other CLSA businesses continue to operate as CLSA,” said a CLSA spokesperson.

According to Bloomberg data, over Rs 90,000