“The transaction, which involves a nominal consideration by Apollo towards the acquisition, will officially close this summer,” the sources are quoted as telling PERE.
Firms including Lazard Ltd., Bank of America Corp., Deutsche Bank AG, Citigroup Inc. and Jefferies Group LLC have all seen similar departures in recent months.
Bank of China International has established itself as the leading investment bank of China’s big four, but what will it take to make BOCI a real challenger to the international firms that it wants to compete with?
As part of its settlement, announced in early June, CBA will pay $700 million plus $2.5 million in legal fees.
Since the reform and opening-up 40 years ago, especially following the nation's entry to the WTO in 2001, the banking sector has seen an immense improvement in its overall strength.