China Merchant Securities has opened a new office in London and intends to become a comprehensive investment bank in the city.
Based in the Square Mile, the new London office will create up to 40 jobs in an initial phase by this year end, with more planned.
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The new office will be headed by Stephen Kan, deputy chief executive officer of China Merchants Securities (Hong Kong).
As part of the move, the bank will mainly focus on offshore renminbi and cross-border initiatives between Europe, the Middle East and Africa.
In addition, the London office will offer risk management services for trading commodities in the UK, including the London Metals Exchange and the IntercontinentalExchange Europe.
Kan added: "The missions of CMS UK are to bridge the needs of clients on cross-border investment and financial services between UK and the EMEA region and the People’s Republic of China."
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By GlobalDataThe move comes after UK and China have agreed £14 billion of trade and investment deals.
