Amundi Asset Management has inked a strategic partnership with CreditEase Wealth Management to explore the wealth management market in China.
CreditEase Wealth Management, part of Chinese fintech conglomerate CreditEase, offers global asset allocation and overseas life service solutions for affluent customers in China. In addition to China, the firm also has offices in Singapore, Israel, US, and Hong Kong.
Amundi is based in France and currently oversees €1.27 trillion in assets. The firm has operations in 37 countries.
Under the agreement, the two firms will collaborate in wide range of areas covering global asset allocation, wealth management solutions, risk management and control, as well as relationship development with local regulators and industry institutions.
CreditEase founder and CEO Tang Ning said: “The strategic partnership brings a win-win situation: It will not only affirm the leading positions of CreditEase in wealth management industry, but also help Amundi explore financial market in China.
“Through the cooperation, CreditEase will improve its financial management ability and acquire more institutional clients. We also introduce Amundi, which used to serve only for ultra-high-net-worth clients, to the Chinese high-net-worth individuals, who will have more choices for their global wealth allocation.”