22nd Oct 2014 10:24
LONDON (Alliance News) - Standard Life PLC Wednesday said it will broaden its cooperation with Industrial and Commercial Bank of China Ltd, building on an existing relationship between the two companies.
In a statement, Standard Life said the businesses will work together to cooperate in the development of savings and investment services and products.
"We are delighted to be working so closely with ICBC, one of the world?s largest banks and a key player in the Chinese savings market. Standard Life is committed to the Asian market and focused on deepening our reach in the region," Chief Operating Officer Sandy Begbie said in a statement.
ICBC's existing relationship with Standard Life is through the FTSE 100 savings and investments company's joint venture in China, Heng An Standard Life.
Standard Life shares were Wednesday quoted down 0.5% at 386.70 pence.
By Samuel Agini; [email protected]; @samuelagini
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