Jesse Lentchner, Asian chief executive of institutional brokerage firm BTIG, has more than 20 years in the industry, including stints running Goldman’s Asian execution business and Indian securities business. We talk to him about the competition these days, especially in light of Chinese brokerages looking to branch out, a move signalled by the upcoming Hong Kong IPOs of Citic Securities and Haitong securities.
Why are Chinese brokerages such as Citic Securities and Haitong expanding overseas
I think the expansion is driven by two factors, one offensive and one defensive. Offensively, public companies are always paid for growth so they look for new markets no matter what...
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