China Merchants Bank outlines wealth buildout plans
The Shenzhen-based group is expanding its presence in Hong Kong and has other overseas branches in the pipeline in Europe and the US, in a bid to sustain its rapid growth.
China Merchants Bank (CMB) has opened a wealth management centre in Hong Kong, offering a wider range of products and services than its other branches there, and it plans to base similar operations in London, Los Angeles, Luxembourg and Sydney.
The Luxembourg and Sydney branches centres are expected to launch at the end of this year or early next and the other two will come in the next three years, said Wang Jing, general manager of private banking at a press conference yesterday…
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