CreditEase Wealth Management, the wealth management unit of CreditEase, has set up an overseas wealth management department to serve Chinese HNWIs abroad.

The new department will be led by CreditEase senior vice president Zhao Ruobing, who has been working at CreditEase since 2008.

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Overall, Ruobing has an experience of over 20 years in the wealth management space.

CreditEase founder and CEO Tang Ning said: “After years of accumulation in capacity, CreditEase Wealth Management is fully prepared in terms of global investment capacity, scientific and technological capacity and service capacity for the international market. We are confident that, with the continuous consolidation of global product investment capacity, CreditEase Wealth Management’s global service capacity will also be further expanded and consolidated.

“Each colleague and elite of the wealth management industry in China will enjoy a broader development space and growth opportunities on an even broader world stage. As China’s wealth management market has matured over the past few years, we have ushered in an era of wealth management in China with asset allocation at its core.”

CreditEase Wealth Management offers global asset allocation services for wealthy Chinese investors, alongside investment, immigration and international education advice. It oversees over RMB100bn ($14.6bn) in assets for Chinese HNW investors.

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The firm opened its first office for overseas business in Hong Kong in 2013, followed by similar branches in Singapore, Israel, New York, and Silicon Valley. It expanded the European market and branches this year.