Bank of New York Mellon (BK)

Bank of New York Mellon's joint venture with China's Western Securities Co Ltd is still in the process of the Chinese regulatory approval, said Robert P. Kelly, chief executive of the U.S.-based bank, on Tuesday.
The proposed JV asset management firm, in which BNY Mellon intends to take a 49% stake, will open soon after the regulatory approval, with a focus on the retail market in China, according to the chief executive.

Oct 28 · 12:53:00 PM · Source: China Knowledge
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by Michael Oliveto