Credit Agricole Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration, France's second-biggest listed bank, has become the latest foreign lender to boost its China investment banking operations with the launch of a new unit.
The new unit, Credit Agricole Advisory Services, focuses on cross-border merger and acquisition, encompassing purchases, disposals and capital raising, it said in a statement on Monday. The unit which began operations on March 10 is overseen by Huai Yang as head of the operation, the bank said. The "new strategic set-up will strengthen the bank's capabilities to connect local and international clients to investment opportunities, both inbound and outbound, presented by the world's second-largest economy", said Jean-François Deroche, the bank's senior regional officer for Asia-Pacific.Some global banks are accelerating their expansion in China with the government granting a few major licences since earlier this year.
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