Ant Financial and Vanguard to form a joint venture.

Ant Financial, a provider of financial services to consumers and small businesses, and Vanguard, a provider of investment management and advisory services, agreed to form a joint venture. Financial terms were not disclosed. The joint venture will provide a fund investment advisory service, as approved by the China Securities Regulatory Commission, to individual Chinese investors. "Combining our technology with Vanguard's investment advisory expertise will make high-quality wealth management services simpler, smarter, and more inclusive," Eric Jing, Ant Financial Chairman, and CEO.