Chinese state-owned brokerage to ramp up investment banking business in Southeast Asia

 A unit of state-owned brokerage China Galaxy Securities (CGS) (601881.SS), opens new tab plans to expand its investment banking team in Southeast Asia to 50 people next year from 30 now, a senior executive said, betting on a rise in dealmaking in the region amid a sluggish market at home.

CGS International Securities is also in the process of securing a license to help manage initial public offerings (IPOs) in Malaysia, said Jason Saw, its group head of investment banking.