Another joint venture financial management company?
Recently, it is reported that Deutsche Bank plans to establish a joint venture financial company with China Post Financial Management. In this regard, the China Securities Journal China Securities Taurus reporter learned from a number of relevant people that Deutsche Bank and China post financial management are negotiating, and there is still a distance from the final landing.
If the “marriage” between the two institutions is successful, the fifth joint venture financial management company jointly established by the financial management subsidiary of state-owned banks and foreign capital will be born.
Industry insiders said that in addition to the joint venture preparation, banks will continue to adopt ways such as introducing strategic investors to improve the capital and competitive strength of wealth management companies with the help of the capital and advanced ideas of foreign institutions.
joint venture wealth management company or another child
Recently, the news that Deutsche Bank plans to establish a joint venture financial company with China Post Financial Management has set off a heated discussion in the asset management circle. There are traces of Deutsche Bank’s overweight in the Chinese market.
General manager of Deutsche Bank China Zhu Tong, chairman of Deutsche Bank (China) Co., Ltd., once publicly stated: “For Deutsche Bank, the Chinese market has broad development prospects and is also one of the most important strategic markets for our global development. In the future, we will pay close attention to and grasp the opening opportunities combined with Deutsche Bank’s own advantages, and continue to introduce our global experience, high-quality products and services to the development of China’s capital market.”
Although it is still unknown whether the joint venture can be successfully established, the signal released can not be ignored, that is, the joint venture financial management company will still expand its capacity.
The reporter noted that prior to this, BOC financial management, CCB financial management, BOCOM financial management and ICBC financial management have jointly established four joint venture financial companies with foreign capital. Among them, Huihua financial management and BlackRock Jianxin financial management have opened the door to welcome guests, and Schroeder bocom financial management and Goldman Sachs ICBC financial management have been approved for preparation.
\u3000\u3000 “Benefiting from the solid investment experience and operation foundation of foreign shareholders in the global market, the joint venture financial management company has brought advanced investment culture, market mechanism, diversified products and risk control concept to China’s asset management market, which not only helps to improve the industry ecology in the field of asset management, but also brings more diversified products and services to investors. From the current policy documents and supervision In terms of attitude, the promotion of joint venture financial companies in institutional application and product layout in the next stage is still expected to continue to speed up. ” Citic Securities Company Limited(600030) analysts Xiao Feifei and Bloomberg think.
Diversified presentation {123567}
From the current situation, for large state-owned banks, joint venture financing companies have become the mainstream choice; Joint stock banks are more inclined to introduce overseas strategic investors.
Recently, the capital increase, share expansion and change of registered capital of CMB wealth management have been approved by the regulatory authorities. Morgan asset management, a strategic investor, will invest RMB 2.667 billion to subscribe for 10% equity of CMB wealth management, which also makes CMB wealth management the first Chinese controlled joint venture wealth management subsidiary.
In addition to CMB financial management, Everbright financial management will also introduce overseas strategic investors. Previously China Everbright Bank Company Limited Co.Ltd(601818) announced that the board of directors agreed Everbright financial to introduce excellent overseas asset management institutions as strategic investors. If a strategic investor is introduced, the shareholding ratio of the strategic investor after subscribing for the new registered capital of Everbright wealth management shall not exceed 15%; If two strategic investors are introduced, the total shareholding ratio of these strategic investors after subscribing for the new registered capital of Everbright wealth management shall not exceed 20%.
Everbright Securities Company Limited(601788) analyst Wang Yifeng believes that it is not ruled out that more banks, especially small and medium-sized banks, will improve the capital and competitive strength of wealth management companies by introducing strategic investors and relying on the capital and advanced ideas of foreign institutions.
“Various signs show that Sino foreign joint venture financing companies have become the mainstream trend, and the main bodies of financing companies will be more diversified.” China Securities Co.Ltd(601066) analyst Yang Rong believes that accelerating the admission of joint venture financial companies is of great significance to the development of China’s entire financial industry, especially the development of asset management market, and will further enrich the variety of financial products.
(source: China Securities Journal)
