In search of JV: An OCBC branch in the central business district of Singapore. OCBC is looking for a Chinese firm to team up with on a securities joint venture. — Bloomberg
SINGAPORE: Oversea-Chinese Banking Corp (OCBC) is looking for a Chinese firm to team up with on a securities joint venture on the mainland, the latest foreign bank seeking to capitalise on the nation’s financial-industry loosening.
Obtaining a Chinese securities licence would allow OCBC to do asset management, investment banking and fund management business in the nation, chief executive officer Samuel Tsien said in an interview in Singapore this week. South-East Asia’s second-biggest bank by assets is talking to various firms that have shown an interest in such a partnership, he said.
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