Haitong blazes a trail for Chinese peers in Europe

While Chinese fund houses have been setting up London offices as they attempt to crack the European market, Haitong Securities has bucked the trend. Haitong, which bought Banco Espírito Santo de Investimento (BESI), the Portuguese lender Novo Banco's investment banking arm, in a €379 million ($412 million) deal last December, has been unique in its approach. The Portuguese deal saw Haitong become the first mainland Chinese group to make a European financial acquisition. Its Ch…