Reported 1 day ago
Abrdn is in advanced discussions with Citic Bank to establish a joint venture for asset management in China, aiming to enhance its position in the country's growing market. This move comes amidst improving UK-China relations, contrasting with other Western firms that have scaled back their operations in China due to economic concerns. Abrdn plans to hold a majority stake, while Citic Wealth, a major player in China's wealth management sector, will own the remainder.
Source: YAHOO