Market Chatter: Abrdn, Citic Bank in Talks for China Asset Management Venture

MT Newswires Live2025-02-21

Abrdn is in advanced talks with Citic Bank (SHA:601998, HKG:0998) to establish a joint asset management venture in China, with the British asset manager expected to hold a majority stake, Reuters reported Friday.

The rest of the stake will be owned by Citic Bank's wealth unit, Citic Wealth, according to the report.

A source said regulatory approval is expected later this year, Reuters wrote.

The talks gained momentum amid warming China-UK relations, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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