Introduction to private banking business, what are the main features of private banking business?

The content of private banking services is very wide, such as asset management services, insurance services, trust services, tax consulting and planning, estate consulting and planning, real estate consulting, etc. Each client has a dedicated wealth management team, including accountants, lawyers, wealth management and insurance advisors, etc. Generally speaking, private banks are equipped with one-on-one full-time relationship managers for clients, and each relationship manager is supported by an investment team. Through a single Relationship Manager, clients can manage a wide range of financial assets spread across the money market, capital markets, insurance markets, ** markets and real estate, commodities and private equity.

To open a private banking service, a client must have at least US$1 million in liquid assets, and in general, the funds deposited by the client are between US$2 million and US$5 million. Many billionaires with tens or even hundreds of millions of dollars often need to use more than 1 private banking service.

Private banking in China officially started in 2007. In March 2007, Bank of China cooperated with its strategic investor, Royal Bank of Scotland, to set up private banking departments in Beijing and Shanghai. Subsequently, foreign banks such as Citibank, BNP Paribas and Deutsche Bank followed suit and opened private banking business.

By the end of 2010, a total of 16 banks in China had opened more than 150 private banking outlets in 22 cities, with more than 20,000 customers and assets under management of more than 3 trillion yuan.

On March 28, 2007, Bank of China's Private Banking Department became the first Chinese bank in China to set up a private banking department. In July 2009, the China Banking Regulatory Commission (CBRC) issued the Notice on Issues Concerning Further Regulating the Investment Management of Commercial Banks' Personal Wealth Management Business, opening up applications for private banking licenses nationwide and allowing the establishment of private banking franchises. The China Banking Regulatory Commission (CBRC) has only granted private banking licenses to three banks, and only for the private banking management headquarters set up in Shanghai.

Shanghai Xiejin Education Group and the University of the Côte d'Azur jointly launched the EIPB program, which has a complete curriculum system and practical guide for private banking and wealth management. To help students achieve professional abilities such as managing financial assets and improving investment strategies according to the actual needs of their own career development. At the same time, it improves service awareness, reduces occupational risks, and realizes seamless connection with the financial industry of the world's leading wealth management private banks.

Private Banking Business, as one of the "New Banking Business Series" organized by Changchun Financial Training Institute of Industrial and Commercial Bank of China, introduces the customer positioning of private banking business, private banking customer asset evaluation and analysis, core business of private banking, customer marketing of private banking business, private banking and retail banking, from the generation and development of private banking business and the background and necessity of private banking business in China's banking industry. Comparison of wealth management and the development of private banking in China.

Based on the three service systems of comprehensive finance, global allocation and family inheritance, Ping An Bank Private Banking has built an integrated investment and financing service platform across products, institutions and markets for customers, so as to realize the global allocation of assets and the safe inheritance of family business.

Advantages of Private Banking:

1. Comprehensive finance with concentrated advantages: Make full use of Ping An Group's all-round resource advantages in products, channels, platforms and other resources to create a one-stop exclusive service for you.

2. Adhere to the consistent value concept: We always adhere to the corporate values of Ping An Group's "professional achievement value", give full play to our professional strengths, and carefully provide you with professional investment advice and honorable services;

3. Professional and senior elite team: select professional and experienced private banking relationship managers to understand your financial goals and investment needs, and help you fully cope with the challenges of the market environment;

4. Tailor-made investment solutions: According to your different needs, we will tailor comprehensive and thoughtful financial solutions for you to obtain the most optimal portfolio returns.

1. It has a high entry threshold and has certain limitations for service objects.

Private banking has set a high bar for products and services, and marketing is mainly focused on high-net-worth target customers. In foreign countries, the minimum amount of private bank account opening is usually 1 million US dollars, and the amount of each transaction is usually in hundreds of thousands of US dollars.

At UBS, Citibank and HSBC, customers must have at least $1 million in assets acceptable to the bank in order to open an account in the Private Banking Department. At present, ICBC, Bank of China, China Construction Bank, CITIC, China Merchants Bank, Bank of Communications, etc., have established private banking business in China, all of which have certain requirements for customers' financial assets.

2. The product categories are diversified, and the requirements for specialization and personalization of services are high.

In order to meet the complex and diverse financial needs of customers and extend the value chain of customer relationships, the private banking business has formed a diversified product structure: first, formulate comprehensive and personalized financial planning according to the financial needs of customers; The second is the asset management business, which helps customers maintain and increase the value of assets through personalized portfolio management; The third is the trust and real estate business, which provides protection for the client's property management and arranges the assets according to the client's expectations; Fourth, to provide customers with bulk commodities and offshore financial services; Fifth, it provides consulting services in the fields of insurance, finance, taxation, investment (including real estate, antiques, calligraphy and painting, etc.), law, etc.

3. Private banking business needs to have a high risk prevention and management system.

The risks faced by banks in the development of private banking business are mainly reputational risks, money laundering risks, operational risks, compliance risks, etc. The first is customer risk, which requires the understanding and analysis of the customer's wealth and funds, and a comprehensive assessment of the customer's political risk, money laundering risk, fraud risk, etc., to understand the authenticity of the customer's assets; Secondly, banks need to manage the risks borne by customers, which are mainly reflected in the risks of product management, which are the risks directly borne by customers and indirectly affect the reputation risks of banks.

It also includes managing employees to avoid the moral hazard and compliance risks of selling products. Finally, private banking business should control the risks borne by banks, including the credit risk when providing financing support to customers, and the operational risks and reputational risks that are borne by providing value-added services to customers.

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If you have a deposit of more than 5 million in the Bank of China, you can open a private bank.

At present, there are no private banks in China.

<> top 10 private banks in China are as follows:

1. China Merchants Bank.

Founded in 1987 in Shekou, Shenzhen, the forefront of China's reform and opening up, China Merchants Bank is the first joint-stock commercial bank in China that is fully owned by corporate legal persons, and the first pilot bank to promote banking reform outside the system.

2. China Construction Bank.

CCB Private Banking is CCB's exclusive brand serving high-net-worth customers with investable assets of more than RMB6 million, and is committed to meeting the all-round needs of customers for personal, family and career development, and providing comprehensive financial solutions with private wealth management, integrated finance and exclusive value-added services as the core.

3. Industrial and Commercial Bank of China.

Industrial and Commercial Bank of China was established on January 1, 1984. On October 28, 2005, the overall restructuring was made into shares. Taking service as the foundation of the bank, we insist on creating value with service, and provide comprehensive financial products and services to more than 7 million corporate customers and more than 600 million customers around the world.

In addition to the above three private banks, the other seven major private banks in China are: Bank of China, Agricultural Bank of China, Ping An Bank, China CITIC Bank, Bank of Communications, Shanghai Pudong Development Bank, and Industrial Bank.

Among these 10 banks, five private banks have total assets under management of more than 1 trillion yuan, namely China Merchants Bank, Industrial and Commercial Bank of China, China Construction Bank, Bank of China and Agricultural Bank of China. The business performance of several other private banks is also very good, and the total assets under management of their private banks are around 500 billion yuan.

The more well-known private banks abroad are:

1. Bank of Singapore.

Bank of Singapore is a wholly-owned subsidiary of OCBC Bank, the second largest bank in Southeast Asia. All customers can enjoy a full range of OCBC Bank's products and services, including personal and commercial banking solutions.

2. Bank of Liechtenstein.

Compared with other listed banks, Bank of Liechtenstein has the advantage of stability which is also its core advantage to attract many customers, and at the same time, it has a high threshold for opening an account and provides one-to-one service to customers, so it has many high-quality customers.

3. Julius Baer.

Julius Baer is a 120-year-old Swiss private bank specializing in private wealth management.