March 9th, 2011
Econintersect: Many foreign banks, such as BNP Paribas Taipei, Societe Generale, Deutsche Bank (Taipei Branch), Barclays Capital, Bank of New York Mellon (BNY Mellon), will expand operations in Taiwan. This is reflective of Taiwan's favorable economic climate and the opening of financial markets between the island and mainland China, according to cens.com. Follow up:
Follow up:From cens.com:
A senior BNP Paribas manager says that Taiwan`s financial market is ideal for wealth management, asset management and securities investment, hence its focus on the said three sectors. Besides, the bank plans to introduce derivative financial products into Taiwan from its operations in Hong Kong and BNP Paribas Securities Services, an affiliate of the BNP Group.
C. J. Liu, general manager of BNY Mellon`s Taiwan branch, says that the mutual opening of financial markets between Taiwan and China is encouraging foreign banks in Taiwan to reinforce capacities in Greater China, and BNY Mellon`s 20 international asset management firms all plan to establish footholds in Taiwan.
Deutsche Bank and Barclays Capital both aim to bring into Taiwan ETFs and bonds that are preferred by Asian investors, believing Taiwan`s investors are looking for stable, safer financial products from foreign financial institutions.