The Research Of Transformation Strategy Of The Trust Industry In China

From the project management perspective, this paper accomplishes the trustindustry transformation strategy as a systematic and scientific project managementissue, studies the trust industry how to transformation on the future period.The year2012has unusual significance for the purposes of the trust industry. Onthe one hand, the trust industry has become the second largest financial sub-sectorsonly after to the banking industry, the trust products are continuously enriched,business complexity upgrade. On the other hand, the frequency of risk events in trustcauses people to investigate whether the trust industry will cause systemic risk again.At the same time, the new policies appear frequently in securities, funds, insuranceand other industries, the asset management institutions in several times number oftrust hold high the banner of innovation, and divide the asset management market.Under the “internal and external” condition, the sustainable of growth patterns in trustcauses the industry to ponder.In this background, this paper discusses the theoretical and practical value of theresearch, summaries the relevant research.First, it has a comparative analysis of the asset management business aboutdifferent financial institutions. And then analyzes the status of asset managementbusiness in China from the aspect proprietary and distribution, income andprofitability of self-employed business. Simultaneous analysis the operationalcharacteristics of the trust company in foreign trust, choose the trust company inUnited States for example. It has a comparative analysis of the both business.Then, the analysis revealed current business model of the trust industry in ourcountry is greatly varies with the foreign trust, it has its unique features. The trustindustry faces two challenges: the channel business is gradually shrinking untildemise, the private investment banking is volatile, and its income is unstable.Meanwhile, the trust industry is also faced with a complex internal and externalenvironment. These factors determine the trust industry must make a strategic choicein transition.Once again, according to the trust industry is facing challenges and it needs toback basics business, it can predict the future three main businesses: privateinvestment banking, alternative asset management business and private wealth management business, which are the future direction of the transformation andstrategic choice.Finally, in order to better coordinate and achieve effective transformation of thetrust industry, the trust industry needs to be fully prepared to cultivate their corecapabilities. For private investment banking, it needs these three core competencies:the ability to obtain assets, institutional sales and customer service capabilities andrisk management capabilities. For alternative asset management business, it needsthese two core competencies: professional investment management capabilities onand after investment. For private wealth management business, it needs these two corecompetencies: product screening capability and investment advisory capacity.Meanwhile, these three businesses also need organizational capacity, which is thestrategic direction and organizational security. In addition, you also need a goodexternal support and cooperation of the regulatory environment.