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BNP Paribas mulls onshore WM JV with Agricultural Bank of China

BNP Paribas’s asset management arm is in talks with the wealth management subsidiary of Agricultural Bank of China (ABC) to set up a wealth management joint venture, targeting the country’s rapidly expanding US$19 trillion wealth management market. The French firm will hold a majority stake in the yet-to-be-formed joint venture, which would provide access to ABC’s large retail client base…

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