J.P. Morgan Asset Management announced that it has received regulatory approval from the China Securities Regulatory Commission to complete its acquisition of China International Fund Management Co., Ltd. CIFM will be operating under the JPMAM brand in China, reflecting its integration into the firm’s global operating model. JPMAM’s Asset Management Wholly Foreign-Owned Enterprise will be integrated into JPMAM China and all CIFM employees will also eventually relocate to join J.P. Morgan at Shanghai Tower. Receiving regulatory approval to acquire full ownership of a Chinese fund manager is an incredibly exciting milestone that reflects our long-term mind-set and the breadth of our commitment to China. Our scale and global capabilities will enable us to help Chinese investors strengthen their investment solutions and diversify internationally, as well as to bring foreign investment and capital to China," said Mary Callahan Erdoes, CEO, J.P. Morgan Asset & Wealth Management.
Published first on TheFly
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