Schroders has announced it is entering into a long-term strategic agreement with China's Bank of Communications (BOCOM) that covers a broad area of client services and solutions including distribution, management and development of products in asset and wealth management.

The relationship between Bank of Communications and Schroders started in 2005 with the establishment of a joint venture company, Bank of Communications Schroder Fund Management Co., Ltd.

The extended agreement includes the cooperation in public and private fund management products, innovative product development, domestic and cross-border business cooperation, pension, private banking, operations, financial technology, training and knowledge exchange between both firms.

Schroders was one of the first foreign asset managers to enter China 25 years ago. Today the business is a well-established expert on global investments for its mainland Chinese clients and is an experienced China investor for global clients.

Lieven Debruyne, Chief Executive Officer, Asia-Pacific, Schroders says, “China is an important part of Schroders’ global strategy, both as a source and destination of capital. We have been investing heavily; establishing strategic partnerships and enhancing our China investment capability with skilled on-the-ground investment and research professionals.