Chinese firm Hywin Financial buys UK wealth manager

China-Asia-700x450.jpg

Hywin Financial Holding Group has acquired UK wealth manager Azure Wealth, which will now be known as Hywin Wealth.

Shangjia Monica Lin has been appointed chair of the board following the acquisition.

The previous chair was Nima Sarikhani, who represented the interests of the original family office investor in the firm.

Managing partner Massimo Scalabrini says: “All other management and operational responsibilities as well as our principles, ethos and investment management philosophy remain unchanged.”

Scalabrini adds that the company will benefit from being part of a global wealth management offering and will be able to provide clients with access and insight into the growth markets of Asia.

Hywin Financial, established in 1989, has 4,000 staff in wealth and asset management across mainland China, Hong Kong, the US and the UK. It has 100 billion Chinese yuan (£12bn) assets under management.

Hywin Capital (UK) will become controlling partner under the deal.