Everbright Yunfu Internet, a subsidiary of China Everbright Group has selected a German fintech firm to provide robo-advice technology in the Chinese market.
Based in Frankfurt, Ginmon applies automation to invest customer assets in a portfolio of low-cost exchange-traded funds (ETFs).
“After a deep analysis of all providers we are sure that Ginmon’s leading technology is the best match with our ambitions,” said Lingwu Xia, chief executive of Everbright Yunfu Internet.
Ginmon has opened an office in Shanghai led by Jerome Eger, managing director for Ginmon China, who is assisted by seven employees. Eger predicted the Chinese robo-advisory market would be worth $750 billion by 2020.
China Everbright is a financial services group with assets of $579 billion.
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