So among his mandates is to search out a joint venture with a Chinese securities partner that would allow BofA Merrill Lynch to underwrite IPOs in China.
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Then this week, the Chinese securities regulator approved the country's first gold fund designed to invest in overseas-listed gold ETFs, a move analysts interpreted as another bullish sign for gold.
Besides financial risk, says Stephen Harner, an industry consultant in Shanghai, they fear for their reputation if their Chinese partner is caught playing foul in the markets (as so many Chinese securities firms do).
A-shares, as well as other Chinese securities.
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Chinese investment trust Citic Securities, up 481%, leads the list of Global 2000 stock market stars.
In fact, Pareto Securities found that Chinese implied oil demand came in at an all-time high of 9.8 million barrels per day in September.
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Direct investment by U.S. companies in China, Chinese exports to the U.S. and Chinese purchases of U.S. Treasury securities are all well off their peak growth rates.
For the very first time Americans can invest in yuan by purchasing securities denominated in the hard-to-buy Chinese currency.
Sioeng, the majority notes, was an owner of Mansion House Securities, which intelligence information showed to be owned in part by the Chinese government.
Chinese state media reported a government official as saying that the tax rise, which has been approved by the Chinese cabinet, "is intended to help promote the healthy development of the securities markets".
Beat-up shares in Chinese paper producers may be poised to rise in the second half of 2012, Northeastern Securities of Jilin said in a research report on Saturday.
The probe last month was led by China's central bank and top securities regulator and focused on a kind of transaction that could magnify trading risks for Chinese banks and brokerage firms.
The bond-market investigation, led by China's central bank and top securities regulator, focuses on a kind of transaction that could magnify trading risks for Chinese banks and brokerage firms, the people said.
Guo Shuqing, the head of the China Securities Regulatory Commission, said that the regulator had already reached an agreement with the Chinese central bank and the State Administration of Foreign Exchange to raise the QFII limit.
An MBA from the Chinese University of Hong Kong, he worked for the fund management arms of Hongkong Bank and Japanese securities giant Daiwa before joining Thornton in 1994.
In China, Mr Caballero argues, this is done indirectly through the state, which buys foreign securities, such as Treasuries, then issues bonds of its own, which are held by Chinese banks, companies and households.
The Chinese bank plans to do more securitization deals in the U.S., as selling off the loans as securities will enable the bank to free up capital to lend more in the U.S. Its goal this year is to originate loans intended for an additional two to three such deals, a person with knowledge of the bank said.
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