The new department will provide wealth management services to high net worth Chinese individuals abroad.

Beijing-based CreditEase Wealth Management has launched an overseas wealth management department, which will provide services to high net worth Chinese individuals abroad.

The firm has appointed Zhao Ruobing, senior vice president of CreditEase Wealth Management, as head of the department, the firm said in a statement. Ruobing, who joined CreditEase Wealth Management in 2008, has more than 20 years of experience in the wealth management industry.

In 2013, CreditEase Wealth Management established its first office for overseas business in Hong Kong, China. It established the Singapore branch in 2014, the Israel branch in 2015, the New York office in 2016, and the Silicon Valley branch in San Francisco in 2017. In 2018, CreditEase Wealth Management expanded the European market and its branches, and obtained corresponding licences in the local markets.

Currently, the company manages over 100 billion yuan ($14.7 billion) in assets for hundreds of thousands of HNW clients in China.

"Growing into the preferred wealth management brand for high net worth Chinese in the world is a five-year goal of CreditEase Wealth Management, which is also the next point for organisational remodeling in the next five years,” said Tang Ning, CreditEase founder and chief executive. “After years of accumulation in capacity, CreditEase Wealth Management is fully prepared in terms of global investment capacity, scientific and technological capacity and service capacity for the international market. We are confident that, with the continuous consolidation of global product investment capacity, CreditEase Wealth Management's global service capacity will also be further expanded and consolidated. Each colleague and elite of the wealth management industry in China will enjoy a broader development space and growth opportunities on an even broader world stage. As China's wealth management market has matured over the past few years, we have ushered in an era of wealth management in China with asset allocation at its core. In the new decade, I wish and firmly believe that, with the joint efforts of all, CreditEase Wealth Management will grow even more prosperous in the global market and continue to lead the development of the industry."

CreditEase Wealth Management, the wealth management arm of CreditEase, focuses on global asset allocation services for high net worth individuals and affluent Chinese investors. It also offers a wide range of services that include investment, immigration and international education advice, as well as products across different asset classes, including fixed income, private equity, capital markets, real estate and insurance.