China Minsheng Bank, which will be headquartered in Shanghai, will have a 60% interest, RBC will have a 30% interest and Three Gorges Finance will hold a 10% interest.
“This exciting initiative provides us with an entry point into the rapidly expanding Chinese asset management market,” said George Lewis, executive vice president, wealth management, of RBC Financial Group and chairman and CEO of RBC Asset Management.
“The fund management market in China is poised for growth, making this an opportune time to form this joint venture,” said Hong Qi, executive vice president of China Minsheng Bank.
