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Bank of New York Mellon Launches China Joint Venture With Western Securities (BK) BNY

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Uploaded by on Jul 7, 2010

nk of New York Mellon (NYSE:BK) announced Wednesday that the China Securities Regulatory Commission authorized BNY and Western Securities to establish a fund management joint venture in China.

According to details of the report, the new venture will be 49% owned by BNY Mellon, while the 51% majority will be owned by Western Holding.

The company will be based out of Shanghai and will initially manage domestic Chinese securities in a range of local retail fund products.

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