HSBC Qianhai Securities Ltd. plans to double its workforce in China over the next four years, Bloomberg report, according to an interview with Chief Executive Officer Irene Ho earlier in the week.
The firm currently has 120 staff, but wishes to boost this to 300.
It is the first foreign majority-owned securities joint venture in China, having been founded last June after a $145 million stock purchase by London’s HSBC Holdings of Qianhai Financial Holdings. It’s core business is to assist institutional clients access Chinese capital markets by providing research and advisory services.
Ho added in her interview, “unlike other joint ventures where a foreign entity owns a minority stake in China, we can publish research reports in mainland China and help clients trade directly through Shanghai and Shenzhen stock exchanges since we are members.”