Belgium-based KBC has officially opened its Representative Office in Shanghai, China, after receiving approval from the China Securities Regulatory Commission. The move follows the recent decision of Chinese banking regulators to allow commercial banks to set up their own fund management companies. According to KBC, efforts are currently underway to select a local partner with which to set up a joint venture fund management firm as required by the related local regulations. With regard to the business development strategy in the Chinese market, KBC said it planned to tap the retail market as its first priority, given that 50 per cent of its global assets under management are derived from this sector.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.