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BNP Paribas AM receives regulatory nod for WM JV in China

Photo by Denys Nevozhai on Unsplash

BNP Paribas Asset Management (BNP Paribas AM) has received the go-ahead from Chinese regulators to set up a joint venture with the Agriculture Bank of China (ABC) focused on the country’s wealth management sector. ABC Wealth Management and BNP Paribas AM will fund 49% and 51%, respectively, of the new entity following the approval from the China Banking and Insurance…

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