Royal Bank of Scotland (hereinafter referred to as RBS) and the Mainland League of Nations regarding the securities joint venture, has received preliminary approval of the Mainland authorities. The new company will be named "Wah Ying Securities."
RBS Group Chairman Philip Hampton 11 On 9 November, a small group of visiting Hong Kong at the statements made.
Third Sino-British economic and financial dialogue opened 9 am at the Diaoyutai State Council Vice Premier Wang Qishan and British Chancellor of the Exchequer Osborne, co-chaired the dialogue, one outcome of the meeting is to further strengthen bilateral cooperation in financial services, including preliminary RBS and the International Union to allow the establishment of joint venture securities companies.
Lawrence Lam said RBS Chairman, Greater China, received the preliminary approval, RBS will have 6 months time to prepare for the establishment of joint venture investment bank issues.
National League Securities Co., Ltd. was established in September 1992, formerly known as Wuxi securities. According to the Chinese Securities Association statistics, in 2009, members of the 106 securities companies, the National League lead underwriting of equity and debt securities house number 4, the amount of underwriting 43.8 billion, ranked 38th.
RBS and the International Union of negotiations began more than a year ago, in the newly formed joint venture, RBS will hold 33.3% of the shares. The remaining 67.7%, compared with securities held by the League of Nations.
People close to the earlier League of Nations Securities, said the League of Nations only come up with all securities business in the investment bank co-operation with RBS is not involved in other businesses.
Lawrence Lam pointed out that the joint venture company is mainly engaged in the mainland stock market issuance and other financing and investment banking is important business in China, one of RBS. He also said that future opportunities for the Shanghai International board, RBS can assist corporate customers in the UK and Europe to the Mainland market.
At present, a total of more than ten joint-venture securities companies, UBS, Goldman Sachs, Credit Suisse, Deutsche Bank and a number of international investment banks in China have formed a joint venture securities companies. And asked about the rise of Chinese investment broker, Lawrence Lam believes that the mainland stock market "cake" is still great, do not worry about competition.
In addition, Lawrence Lam is also a new reporter to the Finance confirmed that two weeks ago, has worked with Huarong Asset Management president Lai Xiaomin the preliminary contact, but the specific content of cooperation is not yet disclosed.
At the same time, Philip Hampton said, RBS Group is currently no financing plan
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