RBS waits for green light for JV broker
By Zhang Fengming |
July 6, 2010, Tuesday
|
Print Edition
Print Edition
ROYAL Bank of Scotland is awaiting regulatory approval to set up a joint venture securities brokerage in China, the bank said yesterday.
The British bank has already found a partner to run the joint venture, said Charles Li, head of the Royal Bank of Scotland (China) Co, yesterday in Shanghai.
He declined to give more details until the regulatory go-ahead is confirmed.
The bank is still in the process of disposing its retail and small- and medium-sized enterprise business in China as its main focus in the country is wholesale banking, Li said.
The disposal is expected to be completed within months. The bank has already disposed its retail and SME businesses in Asian-Pacific markets, including India, Pakistan and Malaysia. China is the last Asian-Pacific market for the bank to sell its retail banking business, which came with its purchase of ABN Amro.
RBS, one of the underwriters of the Agricultural Bank of China's initial public offering in Hong Kong, is recruiting staff across every product line in wholesale banking in China where it also focuses on investment banking.
Royal Bank of Scotland (China) Co is the Shanghai-based local incorporation of the British bank in China.
The British bank has already found a partner to run the joint venture, said Charles Li, head of the Royal Bank of Scotland (China) Co, yesterday in Shanghai.
He declined to give more details until the regulatory go-ahead is confirmed.
The bank is still in the process of disposing its retail and small- and medium-sized enterprise business in China as its main focus in the country is wholesale banking, Li said.
The disposal is expected to be completed within months. The bank has already disposed its retail and SME businesses in Asian-Pacific markets, including India, Pakistan and Malaysia. China is the last Asian-Pacific market for the bank to sell its retail banking business, which came with its purchase of ABN Amro.
RBS, one of the underwriters of the Agricultural Bank of China's initial public offering in Hong Kong, is recruiting staff across every product line in wholesale banking in China where it also focuses on investment banking.
Royal Bank of Scotland (China) Co is the Shanghai-based local incorporation of the British bank in China.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
