![[ANALYSIS] DBP-Daiwa Capital steps down, COL Financial steps up](https://i.headtopics.com/images/2023/10/27/rapplerdotcom/analysis-dbp-daiwa-capital-steps-down-col-financia-analysis-dbp-daiwa-capital-steps-down-col-financia-CBF3943F122A66F5985F62876D8EEF3F.webp)
Because of the expediency brought about by the looming merger of Landbank and DBP, the Japanese conglomerate is taking another route by bolstering its stake in local securities company COL Financial
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The CMIC is the independent audit, surveillance and compliance arm of the PSE established “to preserve and augment the level of integrity within the Philippine capital market industry.”To recall, DBP-Daiwa Capital is the stockbrokerage firm owned by the Development Bank of the Philippines and Daiwa International Holdings Inc. established through a joint venture agreement in 1995.
Come to think of it, since the opening of the economy in 2022, business has started to recover – including the stock market. And, while businesses across the economic spectrum have yet to improve further, operating results have turned better. Daiwa Securities was to bolster its existing stake in local securities company COL Financial to leverage the anticipated growth opportunities within the Philippine economy.As luck would have it, Lee got the break he needed to have his pipe dream move closer to reality. Lee has been gearing COL Financial to become a comprehensivethat provides a wide range of financial services. And the present administration’s plan to merge Landbank and DBP aptly provided the opportunity he needed.
In 2019, under the Lee’s initiative, COL established the institutional business group, which specializes in providing services to financial institutions. Likewise, Lee set up on the same year its own asset management firm, COL Investment Management Inc. The purpose of which, was to serve as the fund manager for COL Equity Index Unitized Mutual Fund, Inc. and COL Cash Management Unitized Mutual Fund, Inc.
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