Wedbush Securities Inc., one of the nation’s leading diversified financial services firms, has entered into an agreement to form a transpacific trading alliance with Maybank, the fourth most valuable bank brand in the ASEAN region as of December 31, 2022. Wedbush and Maybank have signed a 15a-6 Chaperone agreement that will allow U.S. institutional investors to trade in Southeast Asian markets (“PacRim”) such as Hong Kong, India, Indonesia, Malaysia, Singapore, Thailand, The Philippines, and Vietnam.
Wedbush CEO, Gary Wedbush, remarked, “Wedbush is excited to enter into an alliance with Maybank to pursue our PacRim strategy. Maybank impressed us not only with its network and reach, but also its people, who are highly skilled, collaborative, and customer centric. We believe together we can distinctively serve investors and corporates who care about PacRim opportunities.”
The alliance will provide Wedbush customers with research and market insights from the leading home-grown investment bank in ASEAN. The bank has been recognized as Best Broker in Southeast Asia for nine consecutive years by Alpha Southeast Asia.
As part of the alliance, which is intended to be open for trading on March 1, Jean-Louis Lee and Joe Borruso will join Wedbush Securities as Managing Directors. The two executives will be located in Wedbush Securities’ New York office as part of the firm’s Investment Banking & Capital Markets Division.
Source: Businesswire
