QZ Asset Management to move into South America and Africa. Credit: Tumisu from Pixabay.

China-based QZ Asset Management is set to launch its operations in South America and Africa in a bid to expand its international footprint.

As part of the expansion, the asset manager proposes to establish regional headquarters in Lagos, Nigeria, Accra, the capital of Ghana, and Bogotá, the capital of Colombia.

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The company primarily offers investment solutions that are driven by artificial intelligence (AI). With over ten years of experience in the investment sector, QZ Asset Management offers a proprietary Big data-artificial intelligence (BDAI) technology to its clients.  

Following the relaxation of China’s strict financial rules, QZ Asset Management has been strengthening its presence throughout Asia Pacific since 2017.

However, the Covid-19 and the subsequent lockdowns in China and across the globe hindered the company’s expansion plans.

The company noted that it plans to establish the new offices in the first quarter of next year once China lifts its restrictions on global travelling.

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QZ Asset Management CEO Blake Yeung said: “This next step marks another milestone in our journey to establish our presence in major financial markets across the globe.

“Since the onset of Covid-19, we have been restricted in terms of what we can do globally, especially in terms of travelling across regions. Plans were already in place to expand beyond Asia Pacific since 2019, with Latin America and Africa as the main focus of our global strategy.

“The pandemic forced us to postpone such plans but now that the situation has stabilised, we are definitely looking to establish our presence in these regions in the near future.”

Blake also stated that the company plans to set tup QZ’s command centres in Latin America and Africa, as an initial step of its global expansion.