Hong Kong/London/Shanghai | Some of Wall Street’s most powerful financial institutions are stepping up efforts to strike deals in China even as relations sour between Beijing and the US.
BlackRock, the world’s biggest asset manager, last month received approval for a partnership with a state-owned bank in China. Days later, Vanguard, a rival asset manager, said it would relocate its regional headquarters to Shanghai, while Citigroup became the first US bank to receive a fund custody licence in the country.
