Intesa Sanpaolo to Launch Wealth Management Business in China

Date : 12/11/2019 @ 10:28AM
Source : Dow Jones News
Stock : Intesa Sanpaolo S.p.a. (PC) (ISNPY)
Quote : 15.0999  0.0 (0.00%) @ 12:00AM

Intesa Sanpaolo to Launch Wealth Management Business in China

Intesa Sanpaolo (BIT:ISP)
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By Carlo Martuscelli

 

Intesa Sanpaolo S.p.A. (ISP.MI) said Wednesday that it had received approval to provide wealth management services in China through its wholly-owned subsidiary, Yi Tsai.

The Italian lender said it was the first bank to be given permission to operate a wealth management arm fully under its control in the Asian country.

Intesa said that Yi Tsai will operate in the city of Qingdao, which has been designated a zone to pilot wealth management projects in China.

 

Write to Carlo Martuscelli at carlo.martuscelli@wsj.com; @carlomartu

 

(END) Dow Jones Newswires

December 11, 2019 05:13 ET (10:13 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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