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CMB private banking chief says lender must embrace one-bank model to lure clients

The woman who heads China Merchants Bank’s (CMB) private banking unit has indicated that deeper reforms are needed to align the lender’s offerings with its clients’ needs, such as more strongly embracing a one-bank model. The statement of intent from Wang Yanrong comes just months after CMB revamped its wealth management platform to embrace a leaner setup in early 2021….

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