By Gillian Tan
Former Bank of America Merrill Lynch equity capital markets banker Aaron Lamshed will join CIMB Group in August as a director in Sydney, a person familiar with the matter said.
Mr. Lamshed, who spent 14 years at BofA Merrill Lynch after graduating from the University of South Australia, has worked on initial public offerings for companies including QR National.
CIMB, Malaysia’s second largest bank by assets, said Thursday an “unexpected legal issue” prevented the proposed acquisition of Royal Bank of Scotland Group’s Indian operations.
The hiccup means CIMB’s total acquisition cost for RBS’s Asia-Pacific cash equities and associated investment banking businesses will be around GBP160 million (US$246.8 million), rather than the slated GBP173.9 million.
Jason Ng contributed to this post.