Boutique investment bank China Renaissance, which has advised on some of China's top technology deals, has signed an agreement with the largest and most valuable bank in the world.
China Renaissance Group (CR Group), a financial institution dedicated to serving new economy entrepreneurs, and ICBC International Holdings (ICBC International), the sole overseas investment platform of the Industrial and Commercial Bank of China (ICBC), have formed a strategic partnership under which they will combine forces to provide financial services across mainland China, Hong Kong and the United States.
The strategic partnership will enable CR Group to tap into ICBC International's strong capital base and credit support and allow ICBC International to leverage CR Group's extensive experience in providing financial services to new economy enterprises.
Wealth Management
Under the agreement, both parties will share strategic insights and resources and set up a special fund to collaborate in four key business areas - corporate finance, asset management, capital markets and wealth management.
«This framework agreement with CR Group elevates our relationship to a strategic level as we will enhance our cooperation in the areas of corporate finance, capital markets and wealth management. We will be sharing resources including our brand, client base, capital and sales network,» said Lin Cong, Chairman of ICBC International.
