why ICBC Chose Goldman Sachs Consortium

The Industrial and Commercial Bank of China (ICBC) was listed last month in Hong Kong and Shanghai.

Instead of picking another bank to partner up with, ICBC chose a consortium led by Goldman Sachs, including Allianz Group and American Express Co.

The consortium bought 8.89% of ICBC shares making their investment the largest single foreign investment in China's financial sector.

A senior executive gave three reasons for the decision to work with Goldman Sachs:

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