Banking News
- Huaxia Bank plans fund venture
Date: 28-Dec-2007 Sources: (Shenzhen Daily)
HUAXIA Bank Co., part owned by Deutsche Bank AG, plans to set up a fund-management unit to diversify revenue by tapping local investors' growing appetite for shares.
The Shanghai-listed bank was recruiting staff for the venture, Beijing-based Huaxia said in a statement on its Web site yesterday, without giving details. Regulator allowed domestic lenders to expand into fund management with foreign partners in 2005, giving banks another source of income and helping develop the nation's capital markets.
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