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BNP Paribas launches securities JV in Shanghai.
(From Business Daily Update)
Author: BNP Paribas, the largest bank in the Eurozone in market capitalization and net income, on November 25 launched a new securities joint venture in Shanghai, the financial hub of China. The new firm, Changjiang BNP Paribas Peregrine Securities Co, will be 33 percent owned by BNP Paribas with the remaining majority stake by the Changjiang Securities, one of China's middle-sized underwriters. The establishment of the joint venture marks one of the French bank's latest moves to boost its growth in China. It participates in sectors including securities, funds management and banking. "The new joint venture will provide a wide range of financial services covering offerings and underwriting of securities in the domestic market, financial advisory services, mergers and acquisitions," said Michel Pebereau, group chairman of BNP Paribas, at the news conference. The company entered into a ...
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