In China, travel light, advises SG country head

In a developing market, it''s best to focus where the money lies, says Marc Poirier who runs SG in China.

Looking at your own approach in China and that of other banks, what has experience told you is the best strategy

Marc Poirier China is a big country. It's best to travel light. In particular, our approach is to make sure we don't get bogged down in expensive legal entities across a range of activities, such as investment banking, fund management or corporate banking. Some foreign banks already have a commercial banking JV, a JV with a fund management house or sometimes two, and a JV with a securities houses. That is a lot of legal entities, with a lot of attendant costs. For SG, China is still a developing market....

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