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Chinese banks folding their private banking arms into retail divisions, but reversal of this trend is likely, says report

chinese, china

After realising that the independent private banking model used by many global private banks does not yet work in the country, major Chinese financial institutions have been folding their private banking units into their retail divisions, according to a report by research firm PY Standard. However, the report adds that a separation of divisions is expected in the future, as…

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