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Abrdn weighs China asset management JV with Citic unit

Summary by Private Banker International

British asset manager Abrdn is in advanced discussions with Citic Bank to establish an asset management joint venture (JV) in China. The talks could see Abrdn taking a majority stake in the partnership with Citic Bank’s wealth management unit, Citic Wealth, reported Reuters. This comes as some Western financial institutions have scaled back their Chinese operations due to economic concerns and geopolitical tensions. Citic Wealth, which manages a…

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Private Banker International

Abrdn weighs China asset management JV with Citic unit

British asset manager Abrdn is in advanced discussions with Citic Bank to establish an asset management joint venture (JV) in China. The talks could see Abrdn taking a majority stake in the partnership with Citic Bank’s wealth management unit, Citic Wealth, reported Reuters. This comes as some Western financial institutions have scaled back their Chinese operations due to economic concerns and geopolitical tensions. Citic Wealth, which manages a…

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Private Banker International broke the news in 2 days ago on Friday, February 21, 2025.

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