The Study And Comparison Of Private Banking In Europe,America And Asia

Since the birth of regal class dedicated private banks from 17th century, it has been developing in Europe and America for more than 300 years with its unique business model which distinguishes itself from the traditional commercial banks. Not until China's entrance of WTO and the emergence of the Chinese rich class, this private bank financial service has been imported into China, and attracts high attention from China's banking industry.The Chinese rich class has reached more than million people. They are having the astonishing wealth, and the massive financial and the non-financial demand that the tradition Commercial bank are unable to satisfied. The Chinese Banking industry must act according to the vicissitude of the social pattern and the change of the market demand. We must adjust our own business model, introduce the Private bank service idea, and construct the Chinese characteristic Private bank services structure, as to meet the huge challenge in the financial domain.The concept of Private banking, the service content and the standard are first introduced in this article. Then in comparison, we discuss the differences among the Private bank, traditional retailing bank and the personal managing finances from the aspects of the target client, service characteristic, the service type, the business model and so on, simultaneously briefing the Private bank present situation and the trend of development. The paper studies and analyses the development mode and strategy of the private banking from the foreign and domestic perspectives. Four outstanding private banks UBS, Citigroup, HSBC and SOHO representing Europe, Americas and Asia, are selected as samples and being analyzed and compared in-depth for the similarities and differences of the banking development process, service characteristic, service content, cultural characteristic, service idea as well as management pattern. Thirdly, we in-depth analyze the similarities , differences and the bright characteristic of the Private bank in European, the Americas and the Asian separately in the aspects of supervision law, the supervision system, the cultural environment, the business model, the clients'segmentation, the customers'characteristic, management construction ,est. All are provided a model for us to develop the Chinese Private bank.At last, the article is focused on the scale of the customers in Chinese Private bank and their financial demands, and canalized the legal environment, the policy environment and the cultural environment in China, as well as discovered the main development barrier in Chinese Private bank under the condition of segregation of financial business, lack of professionals and heavy ways to educate our customers. Moreover, combined with result of the comparison in Europe, the Americas and Asia, the article has put forward the strategic reform and innovation,and give us a conclusion: The develop of the Chinese Private Bank should base on the Chinese market and culture of her own. In the foundation of knowing your customer and their demand, we should introduce advanced idea, high technology and the product from the foreign bank though the way of purchase the stock or hire the foreign experts, as to achieve the competitive Private bank development model.