Shin Kong acquires MasterLink Securities

October 3 2018 by InsuranceAsia News Staff

Taiwan’s Shin Kong Financial Holdings has said that it will centre its efforts on the insurance, banking and securities businesses after the acquisition of MasterLink Securities.

The acquisition has officially been completed, with Shin Kong’s vice-chairwoman Catherine Lee also serving the role of vice-chairwoman for the new subsidiary.

As part of the agreement, MasterLink chairman Joey Chen will keep his position and the brokerage will retain its name.

After the acquisition, Shin Kong Financial’s paid-in capital will be over NT$120 billion (US$3.93 billion), with its total assets becoming the fifth-largest among the nation’s financial holding companies, the statement further said.