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Abrdn eyes wealth management partnership in China

Regulatory changes have made it a ‘much more interesting market for people that want to deploy resources’.

The acquisition will allow the group to obtain a banking licence in Britain.

The pick-up in investments follows the consolidation of the bank’s alternatives business last year.

The firm is in talks with a top Chinese bank to take a majority stake in the entity, according to China media.

It helps the bank with its ‘strategic priority of being a leading wealth manager in Asia’.

The acquisition is part of its strategy to be a leading wealth manager in Asia.

The programme will start in Hong Kong and Singapore.

There are now 16 ESG related indices for the territory’s stock market.

A rule change in early 2021 opened up the China market to foreign insurers.

The firm plans a three-year hiring spree as it injects cash into its wealth arm.