HNA Group set to become majority owner of C-QUADRAT – the asset manager
“Since we acquired a stake in C-QUADRAT at the start of this year, we have seen how the company, its management and its employees operate highly successfully, and we wanted to participate more strongly in its long-term development,” says Dr. Yang Guang of HNA Group. “HNA Group’s increased confidence in our activities reinforces our commitment to our strategy as a globally active and successful asset manager with Austrian roots,” adds Alexander Schütz, founder and co-shareholder of C-QUADRAT.
HNA Group is on course for growth worldwide.
HNA Group has almost 410,000 employees worldwide, mainly in North America, Europe and Asia. It was founded in 1993. HNA Group started out as a regional airline in China’s Hainan special economic zone and has developed into a group which operates worldwide. Its corporate value currently exceeds USD 90 billion, and its annual sales volume amounts to approx. USD 30 billion.
HNA Group’s management pursues a global growth strategy, focusing on the tourism, logistics and financial sectors. The financial services business segment offers enormous growth potential, which is why HNA Group has established a leading and diverse financial services and investment group over the past few years, which offers a broad range of services from movables leasing via insurance to lending business. For HNA Group, it is a decisive and logical next step to now embark upon the strategic expansion of its asset management division. Through C-QUADRAT, HNA Group also currently holds a approx. 9.9 per cent stake in Deutsche Bank. C-QUADRAT’s management board member Alexander Schütz has been nominated as a candidate for election to the supervisory board at Deutsche Bank’s upcoming annual general meeting.
Same business strategy
This substantial increase in HNA Group’s shareholding in C-QUADRAT will not entail any changes in the company’s strategy. With a current volume of over 9 billion euros of assets under management, C-QUADRAT has become a European player which markets its funds and investment solutions in more than 20 European countries from its offices in Vienna, London, Madrid, Frankfurt, Zurich, Geneva and Yerevan. HNA Group has confirmed that C-QUADRAT’s offices, employees and business strategy are to remain unchanged. C-QUADRAT’s founder and management board member Alexander Schütz comments: “HNA Group’s shareholding in C-QUADRAT will now enable us to achieve further growth for the company and to become a global player.”