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Foreign Banks Expanding Operations in Taiwan

2011/03/07 | By Judy Li

Taipei, March 7, 2011 (CENS)--Seeing Taiwan's favorable economic climate, many foreign banks as BNP Paribas Taipei, Societe Generale, Deutsche Bank (Taipei Branch), Barclays Capital, Bank of New York Mellon (BNY Mellon) will expand operations on the island.

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.