This is a sponsored article from China Merchants Bank Private Banking.
On the evening of 25 August 2023, China Merchants Bank Private Banking unveiled its semi-annual performance report for 2023, showcasing a steady growth trajectory.
As of the end of the first half of the year, the number of clients at China Merchants Bank Private Banking exceeded 140,000, a 6.21% increase compared to the end of the previous year. The total assets managed by the private banking sector saw a growth of 5.89%, securing its position as the leader in the Chinese private banking industry. It is noteworthy that this growth was achieved amid a backdrop of multiple pressures on the Chinese economy and a slower-than-expected recovery in the capital markets.
During the subsequent earnings conference, the senior management of China Merchants Bank held high expectations for the private banking business. The bank’s president, Wang Liang, stated that the private banking sector has “established a very good competitive advantage” within the industry.
With over 16 years of development, China Merchants Bank Private Banking has built a comprehensive service system that caters to the diverse needs of clients, encompassing individual, family, corporate, and societal responsibilities. This includes key business areas such as wealth management, family succession, corporate investment and financing, and charitable activities.
In the wealth management sector, China Merchants Bank Private Banking focuses on product systems and asset allocation. Since 2008, the bank has initiated an open product platform, introducing industry-leading asset management institutions to offer a diverse range of products to clients.
Leveraging years of accumulated insights into products and managers, the bank has constructed a cross-market, all-category, and widely covered product system, along with a rigorous and stable product evaluation system. The evaluation criteria include historical performance, scale of assets managed by the manager, and institutional operational stability by conducting due diligence and on-site reviews to strictly control product risks.
Currently, over 10,000 products are available on the platform. In the sales process, a professional team of investment advisors has been established to tailor asset allocation service plans according to the individual risk and return preferences of clients.
In terms of family succession, China Merchants Bank Private Banking is focused on building a strong presence in the family trust segment. Nearly 70% of private banking clients are business owners and senior executives. As they age, the demand for wealth protection and orderly inheritance has surged, making family trusts an ideal tool to meet these needs.
In recent years, the family trust market in China has experienced explosive growth. From 2019 to 2021, the number of family trusts handled by China Merchants Bank Private Banking each year equalled the total number from all previous years, and in 2022, it surpassed the total of the past three years. According to the “2023 China Private Wealth Report”, over 20% of high-net-worth individuals have established family trusts, and nearly 50% are considering setting one up.
China Merchants Bank was the first institution in China to implement private banking family trusts. With over 10 years of development, by the end of the first half of 2023 it had initiated over 11,000 family trust projects, accumulating a wealth of experience.
In the corporate investment and financing sector, the majority of private banking clients are entrepreneurs, with a high demand from the enterprises they represent. China Merchants Bank Private Banking has strengthened cooperation with corporate finance and investment banking sectors, integrating resources from subsidiaries and external partners. This not only meets the wealth management, planning, and succession needs of entrepreneurs but also satisfies the financial demands of the enterprises behind them.
Unlike foreign private banks, private banks in China generally fall under the retail banking sector, separate from corporate financial services. To integrate internal service resources, China Merchants Bank implemented a series of organisational innovations, introducing experts from corporate finance and investment banking into the private banking team, forming a frontline force that integrates retail banking with corporate finance and investment banking, offering clients comprehensive solutions that integrate individual and corporate elements.
In the community philanthropy sector, China’s high-net-worth individuals are actively responding to national policies, practising philanthropy, giving back to society, and integrating wealth management with philanthropic planning. This also requires private banks to provide corresponding services. In March of this year, China Merchants Bank Private Banking released the “2023 China High-Net-Worth Individuals Philanthropy Research Report”, indicating that high-net-worth individuals have a strong willingness to fulfil social responsibilities, but face challenges in selecting charitable projects and establishing frameworks.
China Merchants Bank Private Banking established a professional charitable advisory team, closely collaborating with charitable organisations. Leveraging the bank’s strong local resources and decades of experience in rural poverty alleviation, it assists clients in finding charitable projects that align with their interests. Simultaneously, it utilises its rich experience in trust and foundation structure establishment to formulate the best charitable structure plans for clients.
As of the first half of 2023, China Merchants Bank Private Banking has assisted clients in establishing five special funds, over ten charitable trusts, over ten family trusts with charitable clauses, and special care trusts.
China Merchants Bank’s robust fintech capabilities have provided powerful support for business expansion in the aforementioned areas. Private banking clients can use the exclusive Premium Version interface on the China Merchants Bank App, designed according to the usage habits and interaction needs of high-net-worth clients, allowing them to complete a wide range of transactions online, including private equity product transactions.
Fintech has also greatly enhanced the operational efficiency of the business. For instance, the establishment of family trusts, which originally relied on manual operations by professionals and could take several months, can now be completed in as little as three days after digital upgrades, greatly improving project initiation efficiency.
With the development of society and the economy, the personal needs of China’s high-net-worth individuals are increasingly integrated with family, corporate, and societal responsibilities. China Merchants Bank Private Banking will continue to adhere to systematic thinking, focusing on client needs to build a systematic advantage.
在8月25日晚上公布的2023年半年度业绩报告中，招商银行私人银行保持了稳健的发展态势。至上半年末，招行私人银行客户超过14万户，较上年末增长6.21%；管理的私人银行客户总资产规模则较上年末增长5.89%，规模位居中资私人银行业界第一。值得一提的是，这是在中国经济面临多重压力、资本市场复苏低于预期的情况下实现的。
随之而来的业绩发布会上，招商银行高管层对私人银行业务寄予厚望，行长王良表示，私人银行已经在银行同业中“形成了非常好的竞争优势”。
经过16年的发展，招行私人银行已经建立起覆盖客户个人、家族、企业、社会责任等方面需求的综合化服务体系，包含财富管理、家族传承、企业投融资、慈善公益等重点业务。
财富管理方面，招行私人银行聚焦产品体系和资产配置两个环节。在产品引入环节，招行自2008年起就建立了开放式产品平台，引入具有行业代表性的资管机构，为客户提供多样化产品。凭借多年积累的对产品和管理人的认知，招行私人银行得以搭建跨市场、全品类、广覆盖的产品体系，以及严谨稳健的产品评价体系。产品评价维度包括历史业绩、管理人在管规模、机构运营稳定性等，开展尽职调查和现场评审，严把产品的风险关，目前在架产品超过1万支。在销售环节，招行私人银行建立了专业的投资顾问队伍，根据客户个性化的风险收益偏好，量身定制资产配置服务方案。
家族传承方面，招行私人银行聚焦打造家族信托细分领域优势。私人银行客户近七成为企业主和企业高管，随着年龄增长，他们对财富保障与有序传承的需求越来越旺盛，家族信托成为满足需求的最佳工具。近年中国家族信托市场呈现爆发态势，2019至2021年间，招行私人银行每年承做的家族信托单数均达到此前所有年份的总和，2022年又超越过往3年的总和。在《2023年中国私人财富报告》调研中，逾两成高净值人群表示已设立家族信托，有近50%的受访者表示正在考虑设立家族信托。招商银行是中国首个落地私人银行家族信托的机构，经过10年的发展，至2023年上半年末已累计立项超过11000单家族信托，积累了丰富的经验。
企业投融资方面，私人银行客户以企业家为主，背后的企业需求非常旺盛，招行私人银行强化和企业金融、投资银行等业务板块的合作，打通子公司、外部合作机构的资源，在为企业家提供财富管理、财富规划与传承等服务的同时，也满足他们背后企业的金融需求。与外资私人银行事业部制不同，中国境内私人银行一般归属于零售银行板块，与企业金融服务分属不同的专业条线。为了整合内部服务资源，招商银行实行了一系列组织创新，引入企业金融、投资银行专家进入私行队伍，在前线形成零售银行和公司金融、投资银行融合作战的队型，为客户出具“个人+企业”一体化的综合解决方案。
社会公益方面，中国高净值人群积极响应国家政策，主动践行公益慈善、回馈社会，将财富管理和公益慈善进行通盘规划，也要求私人银行提供相应服务。今年3月招行私人银行发布的《2023中国高净值人士慈善调研报告》显示，高净值人群践行社会责任意愿强烈，但在慈善项目筛选、架构搭建等方面存在痛点。招商银行私人银行成立了专业的慈善顾问团队，与公益组织建立紧密联系，借助招商银行强大的地方资源和几十年乡村扶贫的经验，帮助客户找到志趣相合的慈善项目。同时，运用其在信托、基金会架构搭建上的丰富经验，为客户制定最佳的慈善架构方案。至2023年上半年末，招行私人银行协助客户成立了五单专项基金，十多单慈善信托、十多单带慈善条款的家族信托和特殊关爱信托。
招商银行强大的金融科技实力，为私人银行在上述四个领域的业务拓展提供了强大支撑。私人银行客户可以在招商银行App上使用专属的“尊享版”界面，按高净值客户的使用习惯和交互需求来设计，可在线完成包括私募产品交易在内的大量业务。金融科技也极大提升了业务的运作效率，例如，家族信托原本依赖专业人士的手工作业，立项时间可长达数月，经过数字化升级后，立项时间可缩短至最少3天，极大提升了立项效率。
随着社会经济的发展，中国高净值人群的个人需求与家庭、企业、社会责任等需求越来越呈现一体化融合趋势，招行私人银行将继续坚持系统思维、围绕客户需求打造体系化优势。
This is a sponsored article from China Merchants Bank Private Banking.
