A London bank that has been recruiting for jobs in China is looking to recruit a third-party broker to sell their services, and a bank source has confirmed to TheStreet that this is the case.
TheStreet reports that the bank is looking for a third party to sell its services in Shanghai.
TheStreet previously reported that the London branch of the Chinese Banking Corp., known as CBC, is looking into the idea of opening a branch in China.
It is unclear if this would be a bank branch or a brokerage account.
The company recently launched an account for a Hong Kong bank, and the bank has said it has been looking into expanding in the country.
The firm has been seeking a third bank for the past year and a half, according to a regulatory filing with the UK Financial Conduct Authority.
The company also has been searching for a brokerage partner in the city of Shanghai.CBC declined to comment to The Street, citing client confidentiality.