HONG KONG, March 13, 2019 /PRNewswire/ -- China Renaissance (Stock code: 1911.HK) and LGT Bank entered into a Strategic Cooperation Framework Agreement in Beijing on March 12, 2019. According to this agreement, the two parties will share strategic resources both in China and internationally to carry out in-depth cooperation in various business functions in the future. Through the establishment of a cooperative strategic partnership, China Renaissance and LGT Bank will jointly provide global wealth management services to high net worth individuals globally. Mr. Bao Fan, Chairman of China Renaissance, H.S.H. Prince Max von und zu Liechtenstein, the CEO of LGT Group, and related business leaders from both parties attended the signing ceremony.
According to the Agreement, China Renaissance will share strategic resources and industry experience with the LGT Bank in the wealth management business, and carry out in-depth cooperation. Through connecting business teams and referring resources mutually, China Renaissance and the LGT Bank will dig deep into their respective industrial and business chain of resources to achieve a strong alliance for mutual benefits.
At the signing ceremony, Mr. Bao Fan, Chairman of China Renaissance said, "Wealth owners emerging from China's new economy have different attributes compared to traditional high net worth individuals. Being young, they understand and embrace technology and the new economy, and are willing to invest in the ecosystem of the new economy. Meanwhile, demand in China's high-end wealth management market is experiencing a transition from wealth generation to wealth preservation. LGT Bank adheres to its century-old values & principles towards wealth of the Liechtenstein Family and possesses rich experience and global perspective in the business of wealth management. We believe that LGT Bank will bring complementary benefits to China Renaissance, and the two parties will create strong strategic synergies."
According to Mr. Bao Fan, the two parties will leverage China Renaissance's strengths in the asset side and entrepreneurs' social circles of China's new economy. Also, with LGT's first class experience in wealth management and strong global customer and product resources, the two parties will cooperate innovatively at all levels across various business functions. In the future, China Renaissance will also provide global asset allocation services for Chinese clients around the world.
H.S.H. Prince Max von und zu Liechtenstein, CEO of LGT Group said: "The signing of the framework agreement recognizes the opportunities two leaders in their own specialized area could better explore together. We at LGT are very excited to partner with China Renaissance to jointly address the growing Wealth Management needs of Asian ultra high net worth individuals, and we are confident this cooperation will strengthen each other's core businesses."
China Renaissance Group ("CR Group") is a leading financial institution that combines private placement advisory, M&A advisory, securities underwriting, research, sales and trading, investment management and other financial services. Providing one-stop financial services across mainland China, Hong Kong and the United States, CR Group operates a competitive and unique international network that connects China's capital markets with the rest of the world, serving new economy entrepreneurs and investors globally.
LGT Bank is a member of LGT Group, a leading international private banking and asset management group that has been fully controlled by the Liechtenstein Princely Family for over 80 years. As of 30 June 2018, LGT managed assets of CHF 206.0 billion (USD 207.5 billion) for wealthy private individuals and institutional clients. LGT employs over 3000 people who work out of more than 20 locations in Europe, the Americas, Asia and the Middle East.
SOURCE China Renaissance Group