BEA expands in Taiwan via wealth management

The Bank of East Asia opened its its newly-formed and wholly-owned wealth management services subsidiary in Taiwan.

In addition to BEA Wealth Management Taiwan, BEA operates branches in Taipei and Kaohsiung, which offer trade finance, corporate banking, and offshore banking services to both corporate and individual customers.

"BEA has long recognised the great potential of local and cross-strait investment. With the launch of BEA Wealth Management (Taiwan), we have the infrastructure to bring these opportunities to all the markets we serve," said Dr. David K.P. Li, BEA Chairman & Chief Executive.

BEA announced on 19 June 2009 that it had received approval from the regulators in Taiwan to acquire AIG Wealth Management Services (Taiwan) Limited. The transaction was successfully completed in late June and the entity was renamed to reflect the new ownership.