Investment banking units of India's ICICI Bank Ltd. (532174.BY) and the U.S.-based Oppenheimer Holdings Inc. (OPY) have agreed to form a non-financial partnership to tap business opportunities in the two countries, the companies said Wednesday.

ICICI Securities Ltd. and Oppenheimer & Co. Inc. have formed a strategic alliance covering a wide range of securities activities including equity and debt capital markets services, advisory services, private equity transactions, and wealth management, the companies said in a press statement.

ICICI Securities recently announced a similar pact with the U.K.-based financial advisory group Collins Stewart Hawkpoint PLC (CSHP.LN) to promote joint access to each others' core markets.

-By Ashutosh Joshi, Dow Jones Newswires; +91 22 6145 6120; ashutosh.joshi@dowjones.com

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