J.P. Morgan is seeking regulatory approval to obtain full ownership of its mainland Chinese securities joint venture.
J.P. Morgan has applied to regulators for approval of its full ownership of the securities joint venture, according to a report citing China chief executive Mark Leung.
The bank currently has a 71 percent stake in the unit after last boosting ownership in November 2020.
J.P. Morgan joins Goldman Sachs in the race to become the first to obtain full ownership of their securities unit in mainland China.
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