Affin Hwang Capital Launch Founded On Culture of Collaboration

22 September 2014

Corporate Communications

Kuala Lumpur, Malaysia – Affin Investment Bank and HwangDBS Investment Bank today announced the completion of their merger process and the official commencement of operations for the newly formed Affin Hwang Capital.

Affin Hwang Capital is based in Kuala Lumpur and Penang and has a total workforce of 1,900 including remisiers across Malaysia. Its three core business lines are Investment Banking (including Treasury & Markets), Retail and Institutional Securities (including Research) and Asset Management.

The complementary strengths and capabilities of Affin Investment Bank and HwangDBS have allowed Affin Hwang Capital to emerge as a leading player in the Malaysian banking industry. “It is our goal to become Malaysia’s leading independent bank-backed investment bank, and today we take an important step in that direction,” said Puan Maimoonah Hussain, Group Managing Director of Affin Hwang Capital.

The Securities business is the largest in the Malaysian market by traded value. The Retail Securities business has over 700 remisiers and a national footprint of 26 locations. On a combined basis, the Institutional Securities business covers 90% of local clients, from both government and private sectors.

By combining the Asset Management businesses of Affin Fund and Hwang Investment Management, Affin Hwang Capital becomes one of the five largest asset management companies in Malaysia today. The business serves over 20,000 individual, corporate and institutional clients and manages approximately RM30 billion in assets.

New team structure put in place

Affin Hwang Capital’s commitment to their ambitious growth strategy is supported by a dedicated, highly experienced senior executive team. The new organisation structure is now emplaced and staff will be supported in developing their current roles, while comprehensive on-going training and development will ensure employees are equipped to drive and implement Affin Hwang Capital’s ambitious future goals.

“That we have sourced our executive management team solely from the pre-merger businesses is testament to the fact that the merger has been conducted in the spirit of a merger of equals and for mutual growth,” said Puan Maimoonah.

Collaborative approach ensures smooth transition for clients, customers

“Above all, we are focused on ensuring that our existing clients and customers from both sides are able to continue ‘business as usual’. We have put a lot of effort into creating an environment that encourages a culture of deep collaboration in Affin Hwang Capital that will create the synergies expected from the merger, said Puan Maimoonah.

All offices of Affin Investment Bank, HwangDBS, Affin Fund and Hwang Investment Management have been rebranded to Affin Hwang Capital. A new corporate website – - for all business lines has also been launched.

New branding and logo honours Malaysian heritage and forward focus

Affin Hwang Capital’s new logo and brand is designed to pay homage to the company’s Malaysian roots, while also symbolising the commitment to international expansion and growth. Conceived and designed in consultation with staff of both Affin Investment Bank and HwangDBS, and each company’s clients, the logo is bold, confident and energetic.

“We wanted a logo that suggests both who we are, and what we have the potential to become,” said Puan Maimoonah, “The new brand, is about indicating to the market that Affin Hwang Capital offers fresh thinking and an entrepreneurial spirit. The interlocking shapes show that we have unique diversity; in our business offerings, perspectives and clients.”

Passion and commitment drives future success

“With the strong foundations we inherit from our legacy businesses, Affin Hwang Capital can move forward with a new era of growth powered by re-energised thinking and a wealth of accumulated experience,” Affin Hwang Capital’s new Chairman, Gen Tan Sri Yaacob bin Mohd Zain (R) said. “I’m pleased with how the management team and staff from both sides of the merger have worked together to ensure a smooth transition for clients and customers alike.”

“I’m excited and energised about what this merger means for the future of our banking group,” said Tan Sri Dato’ Seri Lodin bin Wok Kamaruddin, Deputy Chairman of Affin Holdings and Chief Executive Officer of Lembaga Tabung Angkatan Tentera (LTAT), Affin Hwang Capital’s principal shareholder, “The scale of this merger will bring us to the top five of the industry. Our combined strength and expertise will create value for both clients and shareholders.”