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JPMorgan weighs exiting China venture

The bank is thought to be looking for a new partner for a venture in which it can wield greater control

Published Thu, Oct 20, 2016 · 09:50 PM
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Hong Kong

JPMORGAN Chase & Co is in talks to sell its stake in a Chinese investment-banking joint venture, a sign that foreign banks are getting frustrated with partnerships they can't control.

The New York-based bank is in talks to sell its minority stake in JPMorgan First Capital Securities to its local partner, First Capital Securities Co, according to a statement from the Chinese firm on Thursday. No agreement has been reached, according to the statement.

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