- Barclays Plc (NYSE:BCS) is seeking a Chinese banking partner to set up an asset management joint venture in the country, Reuters reported citing two people with knowledge of the matter.
- If successful, Barclays will join the wagon of other financial firms planning to or have started operating in the $4.3 trillion bank-dominated asset management market.
- The report said that Barclays’ majority-owned China asset management venture would be set up via its unit Barclays Investment Managers (BIM), which currently operates in Europe and Japan.
- A third source said that Barclays recently hired Cherry Zhu in Shanghai to build out BIM’s business in China. BIM’s products are mainly aimed at institutional investors.
- Barclays declined to comment specifically on Reuters’ query about its plan for a China asset management joint venture but said it has been expanding its presence in the country.
- In its latest annual report, Barclays said that China was one of the international markets aiming to expand its corporate and investment banking business presence, along with the Middle East.
- Price Action: BCS shares are down 0.28% at $7.21 during the premarket session on the last check Thursday.
- Photo via Wikimedia Commons
Play Together, Stay Together: 5 Must-Try Video Games For A Romantic Valentine’s Day Celebration
Valentine's Day is just around the corner and nothing says "I love you" more than sharing quality time with your loved ones.
And what better way to share than playing a video game together? Gaming with your partner can be a great way to bond, challenge each other, and most importantly, have some fun.
