Study On The Private Banking Business Of X Bank,China

Private banking is originated from Europe. It has been developed for hundreds of years. With the expansion of Chinese economic, the personal’s wealth increased sharply. The high net worth population in China has Exceeded that of many developed countries, and is nearing that of The United States. China has become a large and rapidly growing the high net worth market. Many high net worth individuals require sophisticated and multifaceted services. As such, China presents enormous opportunity for private banking business, but the challenges are also very significant, especially since much of the private banking is newly generated, and has limited experience in the area.Established in Shanghai on March272008, X Bank’s Private Banking Department serves as the operating unit directly under the headquarter of the X Bank of China, which, for the moment, boasts the world highest market value as well as the highest profits. The Department is also the first private banking service institution authorized by the China Banking Regulatory Commission. So far, X Bank has set up private banking sub-branches in Beijing, Shanghai, Guangzhou and Shenzhen, and other major Chinese cities according to the local development of market and customer basis.Specifically designed for high net-worth individuals whose financial assets exceed RMB8,000,000yuan, X private bank provides personalized and professional solutions, which take the asset management and advisory services as the core, to help our clients and their families to manage their wealth. We mainly provide five service series, including the financial management service, the asset management service, consultant service, value-added service and the overseas financial service. Based on an open ended platform, we select appropriate products and services for our clients and provide consolidated and comprehensive solutions both in financial and non-financial fields.With the managing concept of "Integrity and steadiness" and the service concept of "Thinking and Innovating Beyond Expectations", X private bank, backed up by the whole X Group, has constantly focused on optimizing the diversified operation and service mode, and speeding up the development of the HNWIs market. Accelerating the formation of our core competitive advantages, we are devoted to building up the local Chinese private bank with the highest operating profits, the best service system and the most respectable brand.The thesis consists of five parts. In part1, it introduces the background and the research methods. In part2, the identify and history of private banking are included, and it also introduced the research on the area of private banking. In part3, X private banking businees is anlysned in detail. In part4, problems and suggestions are presented for improvement of private bank construction. In part5, it summarizes the whole thesis.