Vanguard to shut operations in Hong Kong and shift HQ to Shanghai
US asset manager says shutting its Hong Kong and Japan operations will cost jobs
26 August 2020 - 17:12
Shanghai — US asset manager Vanguard will close its Hong Kong and Japan operations and cut jobs across both cities as it shifts its Asian headquarters to Shanghai, it said on Wednesday.
The global fund giant, with more than $5-trillion in assets under management, said in a statement its Hong Kong business mostly served institutional clients and not retail investors, which are its primary focus...
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