Beijing-based China Securities is searching for a foreign partner to create a joint venture in asset management. It is looking for a long-term partner that would be willing to share management responsibility for a funds JV, as well as expertise, allowing the firm to boost its overall competitive advantage, says Jeffrey Tang, deputy general manager of the international business division in Shanghai.
We have had discussions with some US companies, but they were very aggressive and wanted to keep all the senior management positions in the JV, Tang says.
The firm has recently restructured in order to clear a path for an asset management JV. China Securities used...
