JPMorgan Applies for 100% Stake in China Securities Venture
- JPMorgan has signed agreements with partners in ventures
- JPMorgan, Goldman competing to be first U.S. bank with 100%
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JPMorgan Chase & Co. has applied to take full control of its China securities venture and is ramping up hiring as the U.S. bank plows ahead with an expansion in the world’s second-largest economy.
The bank has entered commercial agreements with existing partners in its securities and asset management ventures, said Mark Leung, the bank’s chief executive officer for China, in a Bloomberg Television interview. It’s increasing its staffing about 16% to 17% a year, he said.