Goldman Sachs Forms Wealth Joint Venture With ICBC

The video discusses the promising wealth management sector in China, highlighting the country's growing number of millionaires and middle class. It mentions Goldman's partnership with ICBC to tap into this market, leveraging ICBC's vast client base. The video also covers competitors like European fund giants, BlackRock, and JP Morgan, who are making strategic moves in the market, while Vanguard has decided to withdraw its efforts for a mutual fund license.

What is the significance of the growing middle class in China for wealth management?

What is the projected value of investable assets in China by the end of this decade?

How many personal banking clients does ICBC have?

What are some of the competitors in the wealth management market in China?

Why did Vanguard decide to drop its push for a wholly owned mutual fund license?