Swiss boutique private bank Bordier & Cie has partnered with Credit China Holdings, a peer-to-peer (P2P) lender in China, to attract HNW clients.
The P2P platform of Credit China comprises a client base of 450,000, among which 10% include high-net -worth (HNW) individuals.
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The contract, though not a full-blown joint venture, is a statement of intent to assess working together on the mainland, reports Asian Investor.
Moreover, the company may begin putting funds on its open-architecture platform in 2015 after securing a licence to sell mutual funds this year.
Ang Eng Hieang, executive director at Bordier, said that the collaboration will help the lender evaluate the potential for client referrals and distribution of products and services to HNWIs through the online platform of Credit China."
Phang Yew Kiat, chief executive of Credit China, said that the lender, which intends to expand business from offering short-term loans and financing through its peer-to-peer platform into wealth management solutions, will now be able to serve HNWIs through the partnership.
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