Analyst Who Called Chinese Bank Turmoil Says Trusts Are Next
- At least a quarter of trust firms seen deeply distressed
- Trust industry has seen protests, bankruptcy this year
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The analyst who predicted the troubles that cascaded through China’s regional banks four years ago now has a similar warning for the nation’s $2.9 trillion trust industry.
Many of these firms are “deeply distressed, potentially with their capital solvency at risk,” said Jason Bedford, a former analyst with Bridgewater Associates and UBS Group AG.