Reported 1 day ago
British asset manager Abrdn is in advanced talks with Citic Bank to form a joint venture for asset management in China, potentially acquiring a majority stake in Citic Wealth, the bank's wealth management unit. This move aims to enhance Abrdn's presence in China, especially amidst reduced Western financial operations due to economic and geopolitical issues. The partnership, subject to regulatory approval, aligns with renewed UK-China economic dialogues and follows a similar collaboration between Schroders and Bank of Communications.
Source: YAHOO