To address the flourishing wealth sector in the region, the international multi-family office, Mcfaddens & Co, has teamed up with CIIC (China Industry and Commerce) in a joint venture to launch a multi-office family network in Hong Kong and China.
The co-venture is to “address the significant opportunity of the rapidly growing family office sector in China”, the firms said in a statement. Apart from the establishment of a multi-family office network, advisory services, and fund management will also be established.
CIIC was founded in Beijing in 1988 and is a privately owned multinational enterprise that operates in more than 30 countries in business, finance, real estate, and technology.
Max Eppel, the chief executive of Mcfaddens believes that CIIC is a trusted name in China and is ideally located to support the company’s delivery of services. In addition, CIIC Group has cooperative partnerships with international businesses, which helps to support the private economy and national projects. He also added that their philosophy and track record closely aligns with that of Mcfaddens.
“We are delighted to join forces with McFaddens and support the delivery of value-added services to family offices in China. McFaddens’ vision and ethos are closely aligned with those of CIIC Group, and I am confident that our joint venture will be ideally positioned to address the aspirations of existing and future clients, seeking to ensure that their assets are optimised to deliver benefits to a broad range of stakeholders.” Wang Tianyi, Chairman of the board, added on behalf of the entire CIIC Group.
