CITIC Securities (600030.SH) and French firm Credit Agricole (ACA.Euronext) are close to agreeing plans for a global brokerage joint venture covering China and the Asia Pacific region, Bloomberg reported, citing three people with knowledge of the matter. A preliminary agreement could be announced as early as April 19. It is proposed that Credit Agricole would sell a stake in its Asia brokerage, CLSA Asia-Pacific Markets, in exchange for a holding in the new company, which is part-owned by CITIC. The two firms would also form a joint venture focused on institutional broking and capital markets, effectively replacing CLSA’s existing partnership with Hunan-based Fortune Securities. Partnering with CITIC, China’s largest brokerage by market value, would grant CLSA access to lucrative contracts underwriting mainland share sales. CITIC, meanwhile, would be able to resume its long-held plans to expand overseas. Shares in the brokerage were suspended from trading in Shanghai on April 16 after the company said it was holding “important” discussions.