BNP Paribas and Agricultural Bank of China to form a joint venture BNP Paribas ABC Wealth.

BNP Paribas, an universal bank and financial services company, and Agricultural Bank of China, a bank, agreed to form a joint venture BNP Paribas ABC Wealth. Financial terms were not disclosed. "This is the coming together of two powerful financial groups whose complementary strengths create a dynamic joint venture. BNP Paribas Asset Management is a leading global asset manager and today’s announcement cements our commitment to a key growth market in Asia. We look forward to supporting investors and savers in China with innovative solutions that complement traditional wealth management services. Chinese asset management offers a significant opportunity and we are excited about the journey ahead,” Sandro Pierri, BNP Paribas CEO.