China’s Everbright teams up with German robo-adviser
German financial service company Ginmon has opened an office in Shanghai and signed a partnership contract with Everbright Yunfu Internet Co. Ltd, the internet finance subsidiary of China Everbright Group, to facilitate what is claimed to be the first cooperation of its kind facilitating the development of robo-advisory services to the Chinese market.
Frankfurt based Ginmon enables private customers to invest in ETF-portfolios, which are managed by software technology.
The Chinese market for robo-advisory is forecast to rise above US$750bn by 2020, offering growth potential of more than 15% annually.
Jerome Eger, managing director of Ginmon China arranged the collaboration with Everbright. He previously worked at The Boston Consulting Group and has been engaged in China-projects for over ten years and manages a team of seven in Shanghai.
Lingwu Xia, vice chairman and CEO of Everbright Yunfu Internet said the decision to select Ginmon as a partner was not just down to technology, but also the investor protection and investment solutions provided. The partnership is expected to be executed through various channels.
China Everbright Group comprises securities trading and banking, and claims total assets of some US$579bn.