HONG KONG (Reuters) – Credit Agricole has launched an investment bank in China specializing in mergers and acquisitions, dubbed Credit Agricole (Beijing) Advisory Services, the latest initiative from a foreign banking institution in the world’s second-largest economy.
The new subsidiary of the green bank, led by Huai Yang and operational since March 10, will focus in particular on buyouts, disposals and capital raising, specifies in a Crédit Agricole press release.
The “new strategic setup will enhance the bank’s capabilities to connect local and international clients to investment opportunities, both inbound and outbound, offered by the world’s second-largest economy,” says Jean-François Deroche, head of the French bank. for the Asia-Pacific region.
Like Crédit Agricole, several large banks have decided to strengthen their operations in China, the government having granted important licenses in the sector since the beginning of the year.
Britain’s Standard Chartered bank in January won permission to set up a new securities brokerage division, while JP Morgan and Morgan Stanley were given permission in January and February respectively to take full control of their investment management subsidiaries. active in China.
(Report Selena Li; Claude Chendjou, edited by Blandine Hénault)
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