BOC Int' r4i suppliers l launches private bank in HK

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BOC Int' r4i suppliers l launches private bank in HK

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BOC Int'l launches private bank in HKPublished: 21 Oct 2009 18:16:15 PST<p class="authorInfor"]</p]<!--begin CK content--]<ul class="narrow"]More From ChinaKnowledge.comChina Economy DataChina Business GuideChina DemographicChina Industrial ParksChina Financial Market<P]Oct. 22, 2009 (China Knowledge) - BOC International Holdings Ltd, a wholly-owned subsidiary of Bank of China&lt;601988&gt;&lt;3988&gt;, has opened a private bank in Hong Kong, in a bid to cater for the financial needs of the wealthy clients in Asian countries, the Wall Street Journal reported.</P]<P]Through the new unit, BOCI will offer the affluent entrepreneurs and business executives from mainland China a wide choice of investment products denominated in overseas currencies.</P]<P]There are lots of opportunities in mainland China, said Tse Yung Hoi, deputy chief executive of BOCI, adding that the bank has attracted about HK$48 billion worth of assets to its private banking services, and plans to double its current headcount to 30 by mid-2010.</P]<P]BOC has started private banking business in mainland China as early as 2007, and the new private bank is expected to complement the services offered by its mainland counterpart.</P]
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