Research On The Competitive Strategy Of Private Banking Of Bank Of China, Shandong BR.

Recent years, with the rapid growth of China's economic, personal wealth has faster accumulation. The demand of the asset management services for the rich is becoming stronger and stronger. Private banking becomes the major power to occupy the global banking, driving to the internationalization. With the foreign private banks entering the Chinese market, private banking services has become a focal point for the foreign banks. Facing the competition from foreign banks, it is a major challenge for China's financial industry to develop the local private banking.Based on the successful experience from abroad and Shandong branch in private banking, reviewing the literature of Blue Ocean Strategy and competitive strategy and combining with the internal resources and capabilities in Shandong branch, it is concluded that Shandong branch should choose differentiation strategy.To organize and implement the private banking, Shandong branch mainly through product and service differentiation to control the benefits and risks of high-end customers for product research and development-oriented. The implementation of product differentiation, creating the service integration measures at home and abroad, strengthening cooperation with the Swiss branch in product development and the linkage value-added services to organize and implement the differentiation strategy,in order to enhance the competitive advantage.To ensure the effective implementation of competitive strategy, Shandong branch should establish clear organizational structure and a cooperative mechanism, improve coordination mode, deepen the reform of performance appraisal system, establish an effective performance measurement system, strengthen team building through the external and internal promotion, in order to promote enterprise development and improve the quality of its own staff by creating a distinguish corporate culture.