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Heard on the Street: Bank of East Asia looking for partners for its private banking business

Bank of East Asia chairman David Li, whose grandfather founded the bank in 1918, is believed to have held closed-door meetings with several European boutique wealth managers in a bid to find a partner for the Hong Kong-based lenders’ private banking business. While Bank of East Asia has an enviable network of 100-plus outlets on the Mainland, the Li family…

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