A transpacific trading partnership will be formed between Wedbush Securities Inc., one of the country's top diversified financial services companies, and Maybank, the fourth-most valuable bank brand in the ASEAN area as of December 31, 2022.
With the signing of a 15a-6 Chaperone Agreement by Wedbush and Maybank, institutional investors from the United States would be able to trade in Southeast Asian markets (also known as "PacRim") like 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.”
Under the alliance, Wedbush customers will have access to research and market analysis from the top domestic investment bank in ASEAN. For nine years in a row, Alpha Southeast Asia has named the bank the Best Broker in Southeast Asia.
Jean-Louis Lee and Joe Borruso will join Wedbush Securities as Managing Directors as a part of the alliance, which is anticipated to begin trading on March 1. The two executives will work out of Wedbush Securities' Investment Banking & Capital Markets Division's New York office.