J.P. Morgan Seeks Full Ownership of Chinese JV
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J.P. Morgan is seeking regulatory approval to obtain full ownership of its mainland Chinese securities joint venture.
J.P. Morgan has applied to regulators for approval of its full ownership of the securities joint venture, according to a report citing China chief executive Mark Leung.
The bank currently has a 71 percent stake in the unit after last boosting ownership in November 2020.
J.P. Morgan joins Goldman Sachs in the race to become the first to obtain full ownership of their securities unit in mainland China.
Questions & Answers
Q.What is J.P. Morgan trying to achieve in mainland China?
What is J.P. Morgan trying to achieve in mainland China?
J.P. Morgan is seeking regulatory approval to gain full ownership of its securities joint venture in mainland China. This move would increase their current 71 percent stake in the unit.
Q.Who is the source of the information regarding J.P. Morgan's application?
Who is the source of the information regarding J.P. Morgan's application?
The information about J.P. Morgan's application to regulators for full ownership of the securities joint venture comes from a report citing their China chief executive, Mark Leung.
Q.When did J.P. Morgan last increase its ownership in the Chinese joint venture?
When did J.P. Morgan last increase its ownership in the Chinese joint venture?
J.P. Morgan last boosted its ownership in the Chinese securities joint venture in November 2020. They currently hold a 71 percent stake in the unit.
Q.Which other firm is also pursuing full ownership of its securities unit in mainland China?
Which other firm is also pursuing full ownership of its securities unit in mainland China?
Goldman Sachs is also aiming to become the first to obtain full ownership of its securities unit in mainland China. J.P. Morgan is joining them in this endeavour.