Strategy & Practice Management

Amundi set to target China's HNWIs with CreditEase deal

CreditEase Wealth Management has signed a strategic cooperation agreement with Amundi Asset Management.

CreditEase Wealth Management has signed a strategic cooperation agreement with Amundi Asset Management, which will see the latter explore opportunities among China's high net-worth segment.

CreditEase Wealth Management is the wealth management arm of CreditEase, the Beijing-based fintech conglomerate, while Amundi is Europe's largest asset manager by assets.

The two companies will cooperate on global asset allocation, wealth management solutions, risk management and control, relationship development with local regulators and industry institutions.

Tang Ning, Founder and CEO of CreditEase, said that the deal would help Amundi explore China's financial market.

"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," he added.

CreditEase currently offers global asset allocation and overseas life service solutions for  Chinese high-net-worth and ultra-high-net-worth clients.

Headquartered in Paris, Amundi has been listed on Euronext Paris since November 2015. In 2016, the firm bought Pioneer Investments from the Italian bank UniCredit, bringing the total of assets under management at Euros 1.276 trillion.