© Reuters. FILE PHOTO: The BNP Paribas logo is seen at a branch in Paris, France, February 4, 2020. REUTERS/Benoit Tessier
SHANGHAI (Reuters) – BNP Paribas (OTC:) is in talks with Agricultural Bank of China (OTC:) (AgBank) to form a wealth management venture, sources said, as the French financial services group seeks a bigger share of China’s $19 trillion asset management market.
BNP Paribas’ investment management arm will hold a majority stake in the planned venture with AgBank’s wealth management subsidiary, two sources with direct knowledge of the talks said, without giving financial details.
BNP Paribas declined to comment. AgBank, China’s third biggest lender by assets, didn’t return an emailed request for comment.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Be the first to comment