McFaddens enters joint venture with CIIC Group
McFaddens & Co, an international multi-family office providing the global suite of investment, wealth management, and philanthropic and lifestyle services, announces that it has entered into a joint venture with China International Industry & Commerce Co Ltd to launch a multi-family office network in both mainland People's Republic of China and Hong Kong.
Through the joint venture, McFaddens and CIIC Group will establish a multi-family office network as well as fund management and advisory services to address the significant opportunity of the rapidly growing family office sector in China - one of the most buoyant in the world.
Founded in 1988, Beijing-based CIIC Group is a privately-owned multinational enterprise group operating in the fields of finance, technology and real estate, with business in more than 30 countries and regions including the United States, Russia, Europe and Africa with assets in the region of USD15 billion.
The announcement of this partnership follows the recent news that McFaddens has completed the establishment of the McFaddens & Co UAE operation, expanding the Group’s presence in the fast-growing and underserved EMEA market.
“We are excited to partner with CIIC Group to establish the McFaddens footprint in China and Hong Kong”, says Max Eppel, CEO of McFaddens. “CIIC Group is a trusted and established name in China, which is perfectly placed to support us in delivering our full suite of services. With its commitment to the development of co-operative partnerships with leading international businesses, which enable them to support key national projects and the private economy, CIIC Group has an impressive track record and a philosophy which is closely aligned to our own.”
Lord Grade of Yarmouth, Chairman of McFaddens, says: “I am delighted by this latest announcement, which contributes to the expansion of McFaddens as a truly global business. This news once again validates our model of providing investment advice and wealth management services, while also supporting our clients with their philanthropic and lifestyle goals, which resonates the world-over.”
Commenting on behalf of CIIC Group, Chairman of the board, Wang Tianyi, says: “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.”