Daiwa snaps up KBC's Asian equity derivatives and global converts business
Acquisition of warrants and ETF businesses is viewed as fast-tracking Daiwa's expansion in equity derivatives in Asia
Daiwa Capital Markets, the investment banking arm of Japan's Daiwa Securities Group, is acquiring KBC Group's global convertible bonds and Asian equity derivatives business for a total of around $1 billion. The acquisition is in line with the Japanese dealer's strategy to build a derivatives business centered on Asia that it started in 2008.
Both the convertible bonds and Asian equity derivatives businesses will sit within Daiwa's global derivatives product line, headed by Dominique Blanchard
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