| Wealth management has been a key development focus for MS company to adapt itself to the new environment since 2008 global financial crisis.The past 10 years has witnessed the rapid growth of MS wealth management business which is now among the top tier in the industry and becomes the pillar division of MS company as the income derived from wealth management business has now occupied a significantly larger proportion in the firm overall income.However,the development of MS wealth management business has lost momentum in the past two to three years as the exterior environment evolved,and it has been realized that the aggressive strategy,which was formed and implemented based on the previous weak foundation of wealth management business with little consideration of the synergy with other firm business,has lost sustainability.MS company must explore potential by creating synergy between wealth management and other firm business through re-evaluating and analyzing the new exterior environment of wealth management business,re-defining and combining the resource and capacity of wealth management business as well as the firm as a whole,so that the unique competency of MS wealth management business can be discovered and developed to achieve further sustainable growth.This thesis focuses on the development strategy of wealth management business of a large comprehensive financial service provider such as MS company.Starting from research significance,research approach and literature review,this thesis analyzes exterior and interior environment through diving into the macro environment,industry status,market competition as well as the business model,value chain,resources and capacity,and then comes up with a suitable and feasible corporate-level strategy and competitive strategy as well as the corresponding strategy implementation plan which covers resource allocation,capacity improvement,operation-activity,support-activity as well as evaluation and control methods. |
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