AMERICAN investment bank Kidder Peabody is to establish two offices in China to serve the growing mainland bond market.
It plans to open the offices in Shanghai and Beijing by July, according to chairman Michael Carpenter.
The bank, which has yet to lead a dragon bond issue, will share space with its parent company, General Electric, in its bid for a foothold in the China market.
Mr Carpenter said yesterday the Beijing office would focus on corporate finance and advisory work, while the Shanghai office would work on fixed-interest securities.
The move into China follows the opening of an office in Singapore last week.
Mr Carpenter, returning from an eight-day trip to the mainland, said he was optimistic about the development of debt markets in Asia.
