Phillip Securities to acquire RHB Securities Singapore

The Edge Singapore
The Edge Singapore6/29/2020 07:02 PM GMT+08  • 2 min read
Phillip Securities to acquire RHB Securities Singapore
The transaction is expected to be completed in 3Q this year
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SINGAPORE (June 29): Phillip Securities is taking over RHB Securities Singapore, as the local stockbroking industry goes through another round of consolidation.

The acquisition will improve Phillip Securities’ competitive position and distribution scale in Singapore and Asia, and accelerate its ambition to be Singapore’s leading retail financial service provider, said the leading Singapore brokerage in a statement.

“We have long respected RHB Securities Singapore,” said Luke Lim, managing director of Phillip Securities. “As fellow advocates for investors, both companies have a combined wealth of experience that span more than 70 years,” he said.

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