Religare partners with Trinity Securities in Thailand

Religare Capital Markets is forming a joint venture with Thailand's Trinity Securities to expand its investment banking services in Southeast Asia, underscoring the niche role such firms are developing at a time when major global players are scaling down their operations.

"We are in discussions to form JVs in Indonesia and Malaysia currently and will announce in due course," Religare Capital Markets CEO Sutha Kandiah told Reuters in an email.

Religare signed a joint venture in April in the Philippines to provide investment banking and equity capital markets services with FSG Capital. It is also exploring further growth initiatives in Bangladesh, Vietnam and Myanmar, it said.

The focus of the Thai partnership will be providing clients with insights on the local market as well as advising rapidly growing companies in the country, including those in the under-served mid-market segment, Religare said.

Religare Capital Markets, a part of Religare Enterprises Ltd , focuses mainly on Asian emerging markets and is present in six countries in Asia-Pacific, as well as London and Dubai.

It has also been expanding in Singapore and Hong Kong with new hires.