ICICI Securities, the investment banking subsidiary of ICICI Bank, on Wednesday announced a strategic alliance with United States-based financial services player Oppenheimer Investments Asia to offer institutional broking and investment services.
The alliance between the two companies will include helping their customers to invest and raise money from capital markets, provide wealth management solutions and advisory services.
"Increasingly our clients are seeking access to the US market as well as a broader range of products and services," said Anup Bagchi, MD and CEO, ICICI Securities. "This partnership will intensify our business in the United States."
Bagchi said that the slowdown fears and uncertainty in global economy would not dent the prospects of both the players.
"With this tie-up, we save on cost and time in establishing ourselves in this fast growing market," said Steve Bernstein, CEO, Oppenheimer Investments Asia.