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

• $60 trillion

• $50 trillion

• $70 trillion

• $80 trillion

What is a key reason for the rapid growth in China's wealth management sector?

• Decline in investable assets

• Opening of financial markets

• Stagnant middle class

• Decrease in the number of millionaires

Why is Goldman Sachs interested in partnering with ICBC?

• ICBC has a small but wealthy client base.

• ICBC is the largest bank by assets in the world.

• ICBC is a new player in the wealth management sector.

• ICBC has no competitors in China.

Which bank recently invested over $400 million in a wealth management unit at China Merchants Bank?

• Goldman Sachs

• JP Morgan

• BlackRock

• Vanguard

Which company decided to drop its push for a wholly owned mutual fund license in China?

• Goldman Sachs

• JP Morgan

• Vanguard

• BlackRock