Siam Commercial doubles investment banking team to 40 people

M&A deals in Thailand involving medium-sized corporations are seen as growth opportunities waiting to be seized.

Siam Commercial Bank (SCB) has doubled its investment banking (IB) team for a further expansion of its wholesale banking business prompted by robust local and regional economic growth.

Sopon Asawanuchit, an executive vice-president, said SCB has raised its IB unit to 40 executives and staff, both locals and foreigners, making it the largest one in the country.

Ten more persons will be added next year, he said.

The aggressive move is in line with the greater opportunities now presenting themselves, particularly merger and acquisition deals involving medium-sized corporations, said Mr Sopon.

The team now oversees 24 transactions worth 100 billion baht ($3.31 billion), 13 of them local and international mergers and acquisitions.

The other deals comprise five initial public offerings, three equity offerings, two property funds and one advisory role.

View the full story in Bangkok Post.