Aberdeen AM sets world first with China WFOE
The UK house has become the first global manager to be granted a licence that enables it to operate fully as a private domestic securities firm onshore in China after a rule change.
UK house Aberdeen Asset Management has become the first global manager to be granted a wholly foreign-owned enterprise (WFOE) licence in China that enables it to operate fully as a private domestic securities firm.
The entity – Aberdeen Investment Management (Shanghai) – was established on Monday, September 14 in the Shanghai free-trade zone. Its legal representative is listed as Hugh Young, Aberdeen AM’s managing director in Asia, according to the Shanghai Municipal Administratio…
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