J.P. Morgan Asset Management receives regulatory approval for 100% ownership of China JV
J.P. Morgan Asset Management (JPMAM) announced significant steps in advancing its long-standing commitment to expanding in China.
JPMAM has received regulatory approval from the China Securities Regulatory Commission (CSRC) to complete its acquisition of China International Fund Management Co., Ltd. (CIFM). CIFM will be operating under the JPMAM brand in China (JPMAM China), reflecting its integration into the firm’s global-operating model.
JPMAM’s Asset Management Wholly Foreign-Owned Enterprise (AM WFOE) will be integrated into JPMAM China, reflecting the firm’s consolidated onshore operations.
“Receiving regulatory approval to acquire full ownership of a Chinese fund manager is an incredibly exciting milestone that reflects our long-term mindset and the breadth of our commitment to China,” said Mary Callahan Erdoes, CEO, J.P. Morgan Asset & Wealth Management.