The German financial service company Ginmon opened an office in Shanghai and signed a partnership contract with Everbright Yunfu Internet(, which is also based in Shanghai). The cooperation is the first of its kind in the world.
Jerome Eger, Managing Director Ginmon China arranged the cooperation: “According to Casey Quirk the Chinese assets under management will grow from US$ 3.2 trillion to US$ 17 trillion in 2030 and thus will become the second largest asset management market behind the US. The Chinese market for Robo-Advisory is estimated at more than US$ 750 billion in 2020. The industry offers an enormous growth potential of more than 15 percent”, Eger explains. The wealth management adviser who formerly worked at The Boston Consulting Group has been engaged in China-projects for over ten years and manages a team of seven persons in Shanghai.
Lingwu Xia, Vice Chairman and CEO of Everbright Yunfu Internet is pleased about the collaboration and looks forward to a successful cooperation: “After a deep analysis of all providers we are sure that Ginmon’s leading technology is the best match with our ambitions”, explains Xia. Beside their convincing technology the new partners impressed with the high level of investor protection and attractive investment solutions. China Everbright Group is one of the most dominant Chinese financial holdings, comprising security trading and banking with total assets of US$ 579 billion. The institution will cooperate with Ginmon through its various channels.
Ginmon paves the way for the cooperation with China by means of the advisory board founded in March. “200 million individual investors in China are looking for alternatives to domestic capital market, which is characterized by sharp price fluctuations and speculative bubbles. Automated portfolios are considered to be the next trend in Fintech sector”, says Ginmon’s managing director Lars Reiner. Since founding, commitment in the Far East is part of Ginmon’s corporate DNA.
As a result of having studied together at Frankfurt’s Goethe University Eger and Reiner know each other from early in the beginning.