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Caixa Banco de Investimento (CaixaBI) is the investment banking arm of Caixa Geral de Depósitos (CGD), the largest Portuguese financial group, 100% owned by the Portuguese State.

DIF is responsible for the intermediation of assets listed in the Portuguese stock exchange and abroad, acting close to a large network of domestic and foreign retail and institutional clients. It is also responsible for the coordination of stock issues in the primary market and initial public offerings.

According to data disclosed by CMVM, CaixaBI has 12% of market share in equity markets in the year of 2013. In the last years CaixaBI has been always ranked in the TOP 3.

DIF coordinates the reception of stocks and derivatives orders in the regulated market, but also over the counter, assuring a high level of coverage of the main listed companies in collaboration with CaixaBI’s research department.

CaixaBI is a member of ESN, a pan-European network of investment banks and brokers that collaborate in every area of capital markets, ranging from corporate equity and debt to sales and trading and also research. Being a member of ESN provides CaixaBI a privileged access to a local flavor in 14 European countries (Portugal, Spain, UK, France, Germany, Italy, Belgium, Denmark, Finland, Sweden, Norway, Greece, Ireland and the Netherlands) and the United States.

CaixaBI is involved since the first day in the creation and development of the ESN partnership.

In equity markets, asset allocation policies became much more sector based rather than country based. Within sectors, local brokers are increasingly competing with global brokers. However, “country effect” is still critically important to performance.

In order to provide top quality Pan-European coverage, a group of banks and brokerage firms created European Securities Network LLP (“ESN”), an equally owned company which creates common standards of cooperation in equity research and execution on European stocks while each ESN member maintains its independence and distinct responsibilities.

ESN members are committed to jointly developing and distributing their European strategy and sector research by working together to analyze stocks and process orders on European Markets.

Each ESN member aims at maintaining its unique identity and focuses its research mainly on domestic companies, both big caps and small & mid-caps alike.

The central pillars of our organization’s strategy are local expertise (“local flavor”) and commitment to providing a top quality research & sales service to all of our clients.

ESN member firms share a common research goal: that is to provide the best “independent” local research on companies listed in their respective markets.

Publication of pan-European equities sector reports, strategy reports, in-depth company reports and daily updates thanks to a team of over 160 analysts covering almost 1.000 companies in a common unique database.

Coverage of 30 European sectors, most of them with a sector team of analysts headed by a sector coordinator who manages the team of sector analysts and strives to select the best recommendations within the sector at all times.
A tailor-made sales and trading service delivered from the aggregate “ESN” team of more than 200 sales and traders covering pan-European equities.

ESN research combines the advantage of local insight and timeliness, with the breadth of a pan-European approach. This is especially valuable in the small and mid-caps arena where our local proximity gives us a competitive edge over other pan-European offerings. While in the large caps arena our investment views benefit from our insight “local” understanding of economic, political, and regulatory developments within ESN Countries.

The effective integration of CaixaBI in ESN enables DIF the sustained development of its relationship with institutional clients supported in a pan-European perspective that follows the most recent trends of globalization of financial markets.

In 2010, CaixaBI has increased its operation perimeter to Brazil with the creation of CGD Securities with headquarters in São Paulo. CGD Securities operates in the equity, derivative and foreign exchange markets and takes full advantage of its integration in CGD Group.

CGD Securities is inserted in the ESN through its shareholder, CaixaBI, providing coverage for the Brazilian market as well as its companies. With analysts in São Paulo, Rio de Janeiro and Europe, CaixaBI provide foreigner investors with local knowledge and experience over the Brazilian market, as well as providing local investors with international knowledge and experience over the European market. CGD Securities also provide the DirectaInvest home broker, a product created by the CGD Securities so you can trade via internet on the stock market in a easy, efficient and secure way a diversity of investments: Stocks, Options, POP, Funds, Investment Clubs, Mini contracts BM&F and National Treasure Bonds.

DIF also plays an important role in the retail market in Portugal, offering small and medium clients, as well as corporations, a privileged access to a variety of markets through online trading platform (with execution and custody). The Caixadirecta web site is undergoing a full reshape in order to better serve its clients’ needs.

Global Banking & Finance Review


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