肯·格里菲（Ken Griffin）旗下的Citadel Securities决定在中国自行建立券商运营机构，这主要是在未能获得瑞信集团在华业务并找不到其他可行收购目标后作出的选择。消息人士透露，总部位于美国的这家公司在格里菲的庞大对冲基金和交易帝国中占有重要位置。
在提交中国证券监督管理委员会（CSRC）申请获取包括券商、资产管理及自营业务等各类牌照的同时，Citadel Securities正筹备在中国开展新业务布局，并计划在未来12至18个月内完成这一过程。现有在华办公室的支持仅限于香港与中国的业务连接。
Citadel Securities视从零开始建立自身业务为最佳策略。消息人士称，大部分中国券商已经获得全牌照运营许可，在模式上与中国公司更为匹配。相比直接收购，Citadel Securities选择自主发展将面临更长的筹备周期及更高的挑战性，尤其是在基础设施建设和人才招聘方面的投入。
然而，这一举措发生在一系列积极动向之后：中国政府近期公布了一系列刺激经济措施，导致股市大幅上涨，这被视作推动市场活动和业务发展的契机。不过，对于外资银行而言，由于中国经济环境波动、地缘政治风险增加以及对银行与私企的监管力度加大，中国市场的吸引力正在减退。
尽管如此，Citadel Securities的行动仍然体现出对中国市场持续增长潜力的信心。该公司的全球布局正进一步扩大，近期已在欧洲增加了业务据点，并积极扩展亚洲市场，包括去年在东京设立的新办公室和在多个地区开设办事处的举措。
值得一提的是，黑石集团（BlackRock Inc.）前中国区负责人Tony Tang最近加入Citadel Securities团队，以协助公司应对日趋复杂且不断变化的中国市场监管环境。Citadel Securities一直参与香港市场的A股交易，并在上海设有小型支持团队服务于其在华境外业务。
在2024年前三个月，Citadel Securities自营业务表现强劲，实现净利润近8亿美元。这预示着该公司有望迎来业绩增长的潜在记录年度，在新的资产类别与地区市场扩展业务版图的同时。
新闻来源：www.bloomberg.com
原文地址：Citadel Securities Seeks Own License in China After Failed Bid
新闻日期：2024-09-30
原文摘要：
Ken Griffin’s has opted to establish its own brokerage operation in China after failing in its bid for Credit Suisse’s onshore business and seeing no viable alternative takeover targets, people familiar with the matter said.The US firm, part of Griffin’s sprawling hedge fund and trading empire, is preparing an application to the for brokerage, asset management and proprietary trading licenses, the people said, asking not to be named as plans have not been made public.After failing to buy the Credit Suisse unit, Citadel Securities views building an operation from the ground up as the best option since most brokerages in China are fully licensed, which is less compatible with its own approach. The firm regarded Credit Suisse’s China platform — primarily focused on brokerage services and investment banking — as a better fit for its expansion, one of the people said.Citadel Securities is going against the grain as most foreign banks have scaled back in China as business has cratered along with a sluggish economy, rising geopolitical risks and a crackdown on bankers and private enterprise. Still, the move comes at an opportune time, just a week after China unveiled a bundle of stimulus measures, causing stock markets to soar.A media representative at Citadel Securities declined to comment.The decision to build a business from scratch will take significantly longer than through an acquisition given infrastructure needs and hiring challenges. Gaining a license approval in China is also a protracted endeavor, typically taking at least 12 to 18 months.Though setting up its own shop will give Citadel Securities the flexibility to tailor its business for the Chinese markets instead of inheriting a business built by another firm, the people said.In China, it’s seeking to add brokerage, trading and asset management under the new securities platform, one of the people said. The firm is bolstering its footprint globally, recently adding to its presence in Europe to take on Wall Street firms. It’s also broadly expanding Asia, opening a Tokyo office in 2022 and expanding across regional offices. Tony Tang, BlackRock Inc.’s former China head, was in September last year to navigate the increasingly complex regulatory landscape.Citadel Securities has been participating in the China so-called A-share market from Hong Kong where it handles cash equities, futures, options trading and exchange-traded funds. It has an office in Shanghai with a small team supporting the firm’s offshore China business.Earlier this year, Griffin and , the CEO of Citadel Securities, were among the lead donors to help the San Diego Zoo prepare for the arrival of two giant pandas that were loaned from China. Closely-held Citadel Securities generated of net trading revenue in the first three months of 2024, setting the market-making firm up for a potentially record year as it expands in new assets classes and geographies.
