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JPMAM takes minority stake in CMB’s wealth management unit

Image by Markus Winkler from Pixabay

In a first for a Chinese wealth manager roping in a foreign strategic partner, J.P. Morgan Asset Management, the asset management unit of J.P. Morgan Chase & Co., said it will buy a 10% stake in CMB Wealth Management Co., Ltd. for about RMB 2.67 billion (US$410 million USD), subject to regulatory approval. The deal between JPMAM and CMB will…

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