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Airport lounges and school camps: How Chinese private banks compete on value-added services

By offering clients exclusive access to a UK private school’s summer camp, a Chinese private bank raked in “a few hundred” new clients along with more than RMB 1 billion in new money, according to Tammy Tan, principal at Boston Consulting Group (BCG). In China, private banks differentiate themselves from their peers and their broader retail banking businesses by offering…

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