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Second, Canadian life insurers are rapidly increasing their wealth management operations and becoming more exposed to investment markets.
FORBES
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Allowing companies to incorporate yuan into the ebb and flow of their treasury management operations marks another milestone in integrating the currency into the global economy.
WSJ: Business Asia: The Quietly International Yuan
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Morgan Stanley in particular has been scaling up its wealth management operations, expanding its business significantly and entered into a joint venture with Citi?s Smith Barney, which should help growth this business further.
FORBES: Rich Clients Push UBS Up To $20 Almost