A Research On The Private Banking Business Development Strategy Of China Merchants Bank Nanjing Branch

Private banking is a form of wealth management and investment services offered to ultra-high net worth individuals by financial institutions.The services offered in private banking is the most high-end in the wealth management market,and also an essential way for the commercial banks in China to initiative the business transformation and construct the real world-class banks.In recent years,even though the Chinese macroeconomics has developed a new normal,the group of high net worth individuals is still booming with a relatively high speed,which exposed the tremendous development potential in the private wealth market in China,as well as the indispensable opportunity for private banking service for each financial institution.Although private banking service has already been established for over four hundred years,the commercial banks iin China didn’t have private banking service until 2007.By far the nine years development,there’s still no private banking service in Chinese commercial banks with both Chinese characteristic and globally competitive advantages.Therefore,this proposal will introduce the advanced private banking service management in HSBC and UBS,and then conclude the experience and guidance of the private banking development particular for China Merchants Bank Nanjing Branch.Using PEST analysis and Porter’s Five Forces model,this proposal analyzed the outside environment that Nanjing Branch is facing,including the market overview and competition.Combined the current status and issues of the private banking in Nanjing Branch to breakdown the strength and weakness within the business,also the opportunity and threat from outside of the organization when competing with other financial institutions.Ultimately,this proposal indicates the high level overall strategic goals and development plans for the private banking development in Nanjing Branch.The strategic plans includes brand management,talent management,crisis response system structuring,as well as the further development in service system etc.which are the critical path for Nanjing Branch to improve organizational structure and service quality,in order to achieve the ultimate strategic goals in the shortest possible time.