Tentative Study Of Development Strategies For Private Banking Services At ZG Bank, Zhejiang Province

Private banking, originating from Switzerland in the 16th century, has developed into a dazzling pearl in the sea of the financial services industry. Initially targeting billionaires with more than 3 million dollars of personal assets, it has evolved to provide the well-off group with comprehensive services such as asset management, investment, trust, etc.With the dramatic development of China’s economy, the number of well-off Chinese has been continuously increasing, which calls for a greater demand for private banking services. In recent years, therefore, many banks including ZG Bank have established private banking divisions, competing for these high-end customers.This paper, by studying private banking services at ZG Bank in Zhejiang province, employs questionnaires and SWOT matrix to analyze the strengths, weaknesses, opportunities and challenges that ZG Bank was confronted with. It has also put forward multi-dimensional strategies concerning customer relations, financial products, personnel management and international vision, aiming to give helpful suggestions to the private banking services at ZG Bank.