Citic Securities Bids for Door to U.S. Market

(Beijing) – China's leading investment bank and brokerage Citic Securities is close to inking a US$ 1.8 billion deal for Russell Investments, a global asset management firm that focuses on the U.S. market, a person with first-hand knowledge of the matter says.

Shanghai- and Hong Kong-listed Citic Securities, partly held by the state-owned financial powerhouse Citic Group, plans to buy the firm from the London Stock Exchange (LSE) through a subsidiary called Citic Securities International Co.