Over the years, CreditEase Wealth Management has become a top-tier wealth manager in China, with assets under management of over Rmb100 billion ($16 billion) at the end of 2020. Despite the outbreak of the Covid-19 pandemic, the number of new clients rose 66% year on year.
CreditEase’s wealth management business is overseen by Shao Xiao; the group provides not only wealth management and investment consultancy services in a broad range of areas, but also services related to succession, education, lifestyle and charitable businesses, for high net-worth (HNW) and ultra high net-worth (UHNW) individuals in China.
It divides its HNW and UHNW clients into three groups based on the amount invested: Rmb1 million and above; Rmb10 million to Rmb50 million; and Rmb50 million and above. The internal classification helps the firm to provide more targeted services catering to clients’ needs.
CreditEase has provided services for a host of clients over the years, with a presence across mainland China and in Hong Kong, Europe, Singapore and North America. The overseas segment accounted for 22% of CreditEase’s total business.