Singapore's OCBC Seeks Partner for China Securities Business
- Talking with several candidates, CEO says in an interview
- Joins global rivals in eyeing China securities business
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Oversea-Chinese Banking Corp. is looking for a Chinese firm to team up with on a securities joint venture on the mainland, the latest foreign bank seeking to capitalize on the nation’s financial-industry loosening.
Obtaining a Chinese securities license would allow OCBC to do asset management, investment banking and fund management business in the nation, Chief Executive Officer Samuel Tsien said in an interview in Singapore this week. Southeast Asia’s second-biggest bank by assets is talking to various firms that have shown an interest in such a partnership, he said.