HSBC Qianhai Securities Ltd., the first foreign majority-owned securities joint venture in China, expects to more than double the size of its team in the next four years as it sees economic growth continuing to attract investments to the country.
The firm, launched last year to help institutional clients access Chinese capital markets, expects to have 300 staff, up from 120 currently, Chief Executive Officer Irene Ho said in an interview in New York on March 5. “I just need to see the money coming in,” she said.
London-based HSBC Holdings Plc received approval in June to invest 918 million yuan ($145 million) for 51 percent of a venture with Qianhai Financial Holdings Co. The venture conducts equity research and brokerage activities on locally listed securities, equity and debt underwriting and sponsoring, and advises on domestic and cross-border corporate mergers and acquisitions.
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(news courtesy of Bloomberg)
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