Research Into The Development Of Private Banking In China

Since the sixteenth century, The private banks has established in Switzerland. It has been formed a unique business model and business philosophy. Its core concept is to providing a package of financial services to high net worth individuals and to be the "housekeeper" of high net worth individuals.In this paper, I do the research from the definition of private bank, and its business, products, services and other features. Then I put forward the theoretical basis for private banks. Though the Customer Segmentation, it has identified the key marketing objectives of private banks' customers. To the different needs high net worth clients, we should provide different financial products and marketing services, and then we could build and maintain a good relationship with high net worth clients. By comparing the private banks in U.S. and China, We will find the gap between our private banks and foreign advanced private banks. The fieldâ… compare is structure, products, services and customers. They are significant different in U.S. and China, so we could learn from their advanced experience to promote our own development.However, we still have some policy problems, for example, the strictly separate operation and financial supervision etc. They have limited financial product innovation and financial reform, so that private banks' services and products are greatly limited.In recent years, China's rapid overall economic growth has made the number of high net worth individuals blooming and making itself became the focus of market competition for private banks. It has attracted numerous financial institutions and private banks set up branches in China. Therefore, we have to promote our private banks so that we can compete with the foreign's. At last in this paper, according to China's private bank's status and opportunities, I have made the suggestions in the development of our private banks.