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Allianz seeks partner for investment business

The Allianz Group is looking for partners among Chinese banks to build up a local investment division. In recent months, the subsidiary Allianz Global Investors has held talks with Industrial Bank and China CITIC Bank, among others. This was reported by Reuters. Unrelated to this, the financial house is also advancing plans to set up a fund company without Chinese participation. The management consultancy McKinsey has been commissioned to draw up a concept for the project.

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