• Ernie Diaz

Dr. Livington, I Presume?

Kudos if you know the title as the famously wry remark of one Morton Stanley, as he searched for the source of the Nile. Now one Morgan Stanley is searching for a new source of rivers of fees, as it all but buys out remaining shareholders in its two China JVs.

While Livingston was the only other white man in the Congo, Stanley is by no means the only foreign financial services institution looking to capitalize on terra incognita. Eight companies have been approved, including JP Morgan Chase, Goldman Sachs, & UBS. Citigroup is actively making inroads. Does a financial colonization by foreign giants loom? What happened to decoupling?

"How China's private sector will invest its burgeoning wealth is one of the most underreported stories, and opportunities today," says Edward Lehman. "While the mainstream media focuses on America's efforts to curb Chinese political and economic clout, the world's best business minds are focusing on long term plans to manage China's growing wealth. There will be plenty of room for all kinds of financial service providers, not just bulge bracket."

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