Schroder BOCOM Wealth Management Co., Ltd. (“Schroder BOCOM Wealth Management”) today had an opening ceremony in Shanghai.
The event was attended in person by Qing Wu, Executive Vice Mayor of Shanghai, Cheng Hao, Executive Vice President of Bank of Communications Co., Ltd., David Guo, CEO, China, Schroders and Peter Harrison, Group Chief Executive, Schroders who participated in the ceremony virtually.
Formed jointly by Schroder Investment Management Limited and Bank of Communications Wealth Management Co., Ltd., Schroder BOCOM Wealth Management becomes the third international wealth management company to be established in Mainland China. It is also the second venture between the two groups since forming the Bank of Communications Schroders Fund Management Co., Ltd. in 2005.
Qing Wu, Executive Vice Mayor of Shanghai, said:
“Congratulations to Schroder BOCOM Wealth Management. By adding to our city’s strength in attracting international expertise and resources and injecting new energy into development of the real economy, we look forward to the company’s contribution in elevating the status of Shanghai as an international financial centre.”
Peter Harrison, Group Chief Executive, Schroders, said:
“Schroders has long been committed to the Chinese market. It was in 1994 that we opened our first representative office in Shanghai and we have since then been developing our footprint in this exciting and dynamic country. It feels like only yesterday that Schroders established Bank of Communications Schroder Fund Management Co., Ltd., our first venture with Bank of Communications back in 2005. Our partnership with Bank of Communications has been very successful and today marks an exciting next stage in our collaboration.”
Deqi Ren, Chairman and Executive Director of Bank of Communications Co., Ltd., said:
“The creation of Schroder BOCOM Wealth Management is a testament to the deepening relationship between Bank of Communications and Schroders. It is a demonstration of favourable government policies towards the financial sector. We are also proud of Shanghai’s status as an international financial and wealth management centre.”
Jun Liu, Vice Chairman and President of Bank of Communications Co., Ltd., said:
“Our heartfelt gratitude to the Shanghai Municipal People’s Government, its Financial Regulatory Bureau, and everyone who made the formation of Schroder BOCOM Wealth Management possible. BOCOM is willing to serve as the ‘window, bridge and belt’ to create synergies with our peers on aspects such as asset management and green finance. Our wish is to contribute towards financial infrastructure, market and financial institution developments and the nurturing of financial talent, and in turn, support the building of Shanghai as a global financial hub.”
Lieven Debruyne, Global Head of Distribution, Schroders, said:
“We are proud to establish one of the first international wealth management companies in China together with Bank of Communications, our long-standing partner. We believe that through Schroder BOCOM Wealth Management, we are able to provide relevant wealth management solutions to investors in China that can meet their evolving financial objectives. We also look to further deepen our discussions with the Chinese government to play a part in bringing solutions to new areas of development, including the green transition and pensions.”
David Guo, CEO, China, Schroders, said:
“We are confident in the future of our newly established wealth management company, as it leverages the expertise and resources in client servicing, product design, investment capability and risk management of the two shareholding companies to provide a differentiating and quality wealth management experience to investors.”
As a venture between two long-standing partners, Schroder BOCOM Wealth Management culminates the best resources of its Sino and foreign shareholders to create a differentiated multi-cultural proposition focused on multi-asset solutions.
Whilst shaping a professional and diverse product range across equity, fixed income, multi and alternative assets, the near-term product development focus will be on multi-asset solutions, playing to the strengths of Schroders’ experience in multi-asset management and in using big data for research.
The company will be led by a team of experienced senior executives, including:
- Jordan Chen, Chairman, Schroder BOCOM Wealth Management, is a Doctor of Business Administration with 26 years of experience in the investment management industry, of which 13 of those years have been with Schroders.
- Bing Liang, Chief Executive Officer, Schroder BOCOM Wealth Management, previously Vice President of Bank of Communications Wealth Management Co., Ltd. Liang has 18 years of experience in onshore and offshore investments, asset management, product distribution and business management.
- Johnnie Tsai, Chief Risk Officer, Schroder BOCOM Wealth Management, has close to 20 years of experience in risk management, having worked in a number of international asset management companies in Canada, the UK, the Taiwan region, and the Hong Kong SAR.
The team of experienced senior executives will lead a team of wealth management professionals which on average have more than a decade of diverse experience in the banking, fund management, insurance, and securities sectors.
Photos for media:
Schroder BOCOM Wealth Management Co., Ltd. had its opening ceremony in Shanghai on 28 February 2022.
(From left to right) Hong Tu, Chief Investment Officer, Bank of Communications; David Guo, CEO, China, Schroders; Cheng Hao, Executive Vice President of Bank of Communications; Qing Wu, Executive Vice Mayor of Shanghai; Yuan Hua, Deputy Secretary General of Shanghai Municipal People’s Government; Jun Zhang, Deputy Head of Jing’an District, Shanghai
Peter Harrison, Group Chief Executive, Schroders delivered a speech virtually at the opening ceremony of Schroder BOCOM Wealth Management Co., Ltd.
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Important Information
The contents of this document may not be reproduced or distributed in any manner without prior permission.
This document is intended to be for information purposes only and it is not intended as promotional material in any respect nor is it to be construed as any solicitation and offering to buy or sell any investment products. The views and opinions contained herein are those of the author(s), and do not necessarily represent views expressed or reflected in other Schroders communications, strategies or funds. The material is not intended to provide, and should not be relied on for investment advice or recommendation. Any security(ies) mentioned above is for illustrative purpose only, not a recommendation to invest or divest. Opinions stated are valid as of the date of this document and are subject to change without notice. Information herein and information from third party are believed to be reliable, but Schroder Investment Management (Hong Kong) Limited does not warrant its completeness or accuracy.
Investment involves risks. Past performance and any forecasts are not necessarily a guide to future or likely performance. You should remember that the value of investments can go down as well as up and is not guaranteed. You may not get back the full amount invested. Derivatives carry a high degree of risk. Exchange rate changes may cause the value of the overseas investments to rise or fall. If investment returns are not denominated in HKD/USD, US/HK dollar-based investors are exposed to exchange rate fluctuations. Please refer to the relevant offering document including the risk factors for further details.
This material has not been reviewed by the SFC. Issued by Schroder Investment Management (Hong Kong) Limited.