Wang Bing Takes Over in China for BofA

Bank of America – Merrill Lynch is looking to better expand its products and services in China. To that end, the combined bank has asked Wang Bing to be the head of corporate finance in China . Wang will be responsible for transactions across a number of Chinese market sectors .

This is a good move for Bank of America – Merrill Lynch. The company is clearly looking to the future. China is expected to become an economic superpower in the coming years, and it is smart to position one’s business to take advantage of future possibilities . (Provided, of course, you don’t over leverage yourself in the present.)

Additionally, the increased profile of Western financial companies is likely to benefit other companies as China becomes more open to economic and business exchange with the West . With a rising middle class, and a tendency toward increased business activity, there are a number of opportunities available in China.

Even if a company doesn’t look specifically to China, it can be wise to look for ways to make inroads in developing economies. The business world is more interconnected than ever before, and only companies that look for new opportunities to operate in the changing world will thrive .

Image source: snowyowls via Wikimedia Commons