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Goldman Sachs gets regulator nod for full ownership of China securities JV

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The emblem of Goldman Sachs is displayed of their workplace positioned in Sydney, Australia, Might 18, 2016. REUTERS/David Grey

Oct 18 (Reuters) – Goldman Sachs mentioned on Sunday it acquired an approval from China’s securities regulator to take full management of its mainland securities enterprise.

The U.S. financial institution mentioned it’s going to purchase the rest of Goldman Sachs Gao Hua Securities Firm Ltd (GSGH), and rename it as Goldman Sachs (China) Securities Firm Ltd.

It additionally mentioned the migration of its onshore enterprise models to GSGH from Beijing Gao Hua Securities is underway.

Reporting by Nikhil Kurian Nainan in Bengaluru; enhancing by Uttaresh.V

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