westlb-chairman-aims-to-avoid-jv-with-chinese-partner

WestLB chairman aims to avoid JV with Chinese partner

Dr Thomas Fischer, chairman of WestLB, says he would prefer to enter China with a Hong Kong partner.

By Dan Slater

September 17, 2006

In a lightening visit to Hong Kong before moving on to Singapore, WestLBÆs chairman Thomas Fischer emphasised the company's wish to expand its presence in China and India. These markets currently contribute only a small amount to the bankÆs revenue, but are the fastest growing.

However, Fischer says that given the groupÆs lack of experience in China it would prefer to be guided into China by a Hong Kong entity. Fischer would not disclose who might be in the running for the role.

He also says that the bank is not interested in following the examples of banks such Royal Bank of Scotland and Bank of America which have taken strategic stakes in...

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