Recently, ABC Wealth Management Co., Ltd. (“ABC Wealth”), a wholly-owned subsidiary of Agricultural Bank of China Limited ("ABC"), has received the approval from China Banking and Insurance Regulatory Commission to establish a Sino-foreign wealth management joint venture ("Company") in cooperation with BNP Paribas Asset Management Holding ("BNPP AM", together with “ABC Wealth”, the “Parties”). The Company will be jointly contributed by ABC Wealth and BNPP AM with 49% and 51% in the registered capital respectively.
As a wholly-owned subsidiary of ABC, ABC Wealth is committed to developing into a leading asset management institution offering excellent customer experience. The Company jointly established by ABC Wealth and BNPP AM can fully utilize the Parties' respective strengths and characteristics, and better serve the increasingly diversified investment and wealth management needs of various customers.
Global Law Office ("GLO") acted as the legal counsel to ABC Wealth in the transaction and has been deeply involved in the preparation of the Company, providing high-quality legal services on the design of transaction structure, negotiation of commercial terms and the drafting of transaction documents.
GLO's team is led by Jinrong Liu, Minghao Xu, Qiuning Kang and Qing Ren, and the team members also include Chao Meng, Yi Wu, Yue Chang, Shuhan Li and Ningxin Huo.