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Schroders gets nod to become 3rd foreign-controlled wealth management venture in China
Published on: 2021-02-24
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Schroders said on Monday it had received Chinese regulatory permission to form a majority-owned wealth management venture with a unit of Bank of Communications (BOCOM), the country’s fifth biggest lender.
 

The announcement came days after Schroders applied to set up a wholly-owned mutual fund business in China, where the government fully opened up its giant financial sector to foreign companies last year.
 

“Schroders has long been committed to the Chinese market,” Peter Harrison, Schroders Group Chief Executive Officer, said in a statement.
 

“The Chinese market represents a significant opportunity for Schroders, entailing the world’s second and third largest equity and bond markets respectively.”
 

The new wealth management venture, based in Shanghai, will be 51% controlled by Schroder Investment Management Ltd, and 49% owned by BOCOM Wealth Management Co.
 

It’s the third wealth management venture in China. Amundi partnered with Bank of China, while BlackRock and Temasek Holdings (Pte) Ltd are setting up a similar venture with China Construction Bank.
 

第三家外资控股理财公司来了!

刚刚,交通银行发布公告,宣布施罗德投资管理有限公司(以下简称“施罗德投资集团”)与交行全资子公司交银理财有限责任公司(以下简称“交银理财”)合资筹建施罗德交银理财有限公司(以下简称“施罗德交银理财”)一事正式获批。
 

2019年7月20日,国务院金融稳定发展委员会办公室宣布了11条金融业进一步对外开放的政策措施,试点外资控股理财公司正式提上议程。此后,银保监会先后批复了汇华理财和贝莱德建信理财的设立。
 

此次,施罗德交银理财成为第三家获批筹建的中外合资理财公司。值得关注的是,这也是自2005年施罗德投资集团和交行共同发起交银施罗德基金管理有限公司后,两家集团在资管领域的再合作。

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