Goldman Sachs ICBC Wealth Management can now offer wealth management products to domestic Chinese clients.
The first batch of wealth management products is now offered to individual investors in four cities.
Goldman Sachs Asset Management (GSAM) has gained preliminary approval to form a wealth management joint venture with Industrial and Commercial Bank of China (ICBC).
The new wealth management subsidiaries may provide business opportunities for foreign players that have a private fund management licence in China.
Bond investors have enjoyed a recovery since the start of the year, and for funds positioned at the riskier end of the credit spectrum it has turned into a bonanza.
China’s big state-owned banks have rallied around 18% on average in January in contrast to 2017, when they lagged the broader China equity indices. What is driving them?
BMO Financial Group (BMO) has announced plans to venture into the new fund-of-funds space in China by embedding its exchange-traded products into funds managed by its partner Industrial and Commercial Bank of China (ICBC).
Industrial and Commercial Bank of China (ICBC) introduced two indices tracking baskets of mutual funds, in anticipation of the approval of fund-of-funds (FoF) products by China’s regulators.
China Merchants Bank, ICBC and Bank of China are among the top 20 largest private banks globally, according to a report from Globaldata and Private Banker International.
Robo-advisors are posing challenges to the people-oriented wealth management industry in China, according to panelists at Fund Forum Asia 2017 in Hong Kong.