Citigroup has partnered with Orient Securities in China to set up a securities business, The Wall Street Journal reports. The joint venture, which will be called Citi Orient Securities, still requires regulatory approval, adds Reuters.
The venture will let Citi deal in stock and bond underwriting along with advisory services for mergers and acquisitions. Orient Securities businesses include securities underwriting, brokerage services, securities trading, asset management and commodities futures in China.
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