Industrial & Commercial bank of China's Jiang Jianqing has made no attempts to hide his massive global ambitions. Buoyed by climbing revenue and profits (net profits for 2010 reached $24.4 billion, up 28%), the chairman of the world's largest bank (by market value) has been eagerly stretching into every market that will have him. ICBC has opened institutions in more than 200 locations across the globe. Now Jiang has set his sights on obtaining a strong U.S. foothold. In October, ICBC paid a token $1 to purchase the Prime Dealer Services unit of Fortis Securities, allowing it to begin broker operations in the U.S. The bank also signed an agreement with Bank of East Asia to acquire an 80% stake of its U.S. subsidiary for $140 million.
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