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BNY Mellon to launch China joint venture
08 July 2010
China's regulators have granted approval for a joint venture fund management firm set up by BNY Mellon and Western Securities
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[BNY Mellon]
[Western Securities]
The China Securities Regulatory Commission has authorised BNY Mellon and Western Securities to establish a joint venture fund management company in China. The new company, BNY Mellon Western Fund Management, will be owned by BNY Mellon (49%) and Western Securities (51%).
Bin Hu, a former senior executive at BNY Mellon Asset Management, has been appointed chief executive officer of the Shanghai-based venture.
BNY Mellon Western Fund Management will initially manage domestic Chinese securities in a range of local retail fund...
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