Bank of China joins CML
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The Bank of China (UK) is the latest lender to become a member of the Council of Mortgage Lenders.
The company was created following the Bank of China’s decision to set up a branch in London in 1929.
This was the first time any Chinese bank had set up a financial institution in another country.
The CML says that the Bank of China (UK) has expanded steadily over the years and is now an important member of the City’s banking community, with branches in Birmingham, Manchester, Glasgow and London’s Chinatown.
Stockbroker Execution Ltd has also joined the CML as an associate.
Execution is a full-service agency broker, providing a range of services for clients, including execution, sales, trading and research.
Its client includes some of the world’s major investing institutions, including mutual, pension and hedge funds and insurance companies.
The CML now has 136 members and 81 associates.
Bank of China is currently the third largest bank in the world by market capitalisation.
It is authorised by the Financial Services Authority and a member of the Financial Services Compensation Scheme.
UK distributors offering deals with Bank of China (UK) include Legal & General Mortgage Club via the appointed representatives of L&G Partnership Services, Solent Mortgage Services, Complete Mortgage & Loan Services, Connect Mortgage Group and Savills Lending Solutions.
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