Credit Suisse obtained a securities broker-dealer license for the Philippines Stock Exchange in February this year and will provide sales trading, program trading and execution, as well as research and sales services to clients.
Credit Suisse CEO for Asia Pacific Osama Abbasi said they are very pleased to launch a full Cash Equities operation onshore in the Philippines, underlining their long-term commitment to this important market.
"The Philippines is a key market for Credit Suisse in Southeast Asia, and we see tremendous growth opportunities. This launch further complements the leading Equities franchise Credit Suisse has in Asia Pacific," Abbasi said.
Credit Suisse country manager for Philippines Simon Paterno said by becoming the first major foreign brokerage to set up in the Philippines stock market for a decade, Credit Suisse will be able to substantially strengthen its ability to serve domestic and international clients in terms of sales, trading, execution and research.
In the Philippines, Credit Suisse has been a leading financial advisor since1992, managing numerous landmark equity, debt and mergers and acquisitions transactions since then.
Credit Suisse has advised on M&A transactions involving Philippines entities worth more than $14bn since 1995 and arranged debt and equity capital markets transactions worth nearly $15bn since 2002, according to Dealogic.
