Industrial and Commercial Bank of China (HKG:1398, SHA:601398) changed the name of its fund management joint venture with Swiss investment bank UBS, ICBC disclosed on its website Friday.
The new name has been changed ICBC UBS Asset Management from ICBC Credit Suisse Asset Management, the filing said.
The name change reflects the purchase of Credit Suisse by UBS in 2023, taking its more than 20% stake in the JV, Yicai Global reported separately Friday.
ICBC is still the largest shareholder in the JV with 80%, the report said.
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