Chinese securities JV could create new banking jobs in Hong Kong

Those seeking banking jobs in Hong Kong may be interested in plans for a new Chinese securities joint venture (JV).

British firm Royal Bank of Scotland is seeking a partner for its proposed initiative and Reuters has quoted an informed source as stating that it has identified a likely candidate.

The bank''s entry into the Chinese market is intended to tap into the strong financial sector growth in the region.

In a statement, Royal Bank of Scotland Asia-Pacific chief executive John McCormick said: "We are exploring a securities JV that would further enhance our existing platform in China."

He added that the country is a "core market" for the company''s wholesale and investment banking operations and RBS has a number of holdings in China - including a locally incorporated bank.

HSBC chief executive Mike Geoghegan recently predicted strong economic growth in Asia during 2010 at a rate of expansion three times that of western countries, according to comments reported in the Scotsman.