Bloomberg Two senior executives at Goldman Sachs Group Inc.’s Asia merchant banking division have retired, a year after the firm combined its multiple private investing units into one team. Jonathan Vanica, who headed credit in Asia and real estate investing in India, Southeast and Korea, left this month after 19 years at bank. David Chou, a 15-year veteran who looked …

Bloomberg IOOF Holdings Ltd. has agreed to buy National Australia Bank Ltd.’s (NAB) wealth management unit for A$1.44 billion ($1.1 billion) as its transformation gathers pace. The Melbourne-based investment group will seek to raise A$1.04 billion through a share sale to help finance the purchase of MLC, IOOF said in a statement on Monday. The rest will be funded through …

Bloomberg BlackRock Financial Management, Inc. received approval from the China Securities Regulatory Commission to set up a wholly-owned mutual fund management company in the country. BlackRock is the first foreign business to receive the approval in China. The new company is based in Shanghai and has registered capital of 300 million yuan ($43.7 million), according to a statement on the …