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Article: BNP Paribas AM expands in Asia with Chinese joint venture.
- Article from:
- Financial News
- Article date:
- October 10, 2002
CopyrightCOPYRIGHT 2002 Financial News Publishing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Guy Paisner in Paris
BNP Paribas Asset Management is hoping to expand its activities in Asia with the creation of a joint venture asset management vehicle in China.It has already signed a shareholder agreement with S&W, a Shanghai-based broker, and IFC, a subsidiary of the World Bank, but the joint venture partners are waiting to receive a license to conduct asset management business in Shanghai from the Chinese authorities.
Gilles Glicenstein, chief executive officer of BNP Paribas Asset Management, said: "We believe that China will develop into an important marketplace for asset managers. It is clearly attractive in terms of the size of its ...