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BoCom first among state banks to set up AM subsidiary with RMB 8b of capital

Bank of Communications (BoCom) has become the first among Chinese state banks to set up an independent asset management subsidiary with RMB 8 billion of capital. Asian Private Banker understands the bank has yet to decide on the leader of the new business, BoCom Asset Management, from a list of internal candidates. The wholly-owned subsidiary will be based in Shanghai…

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