Zhejiang Branch Of JT Bank Private Banking Business Strategy Reserch

With the slowdown of China's macroeconomic growth,the deepening of interest rate marketization and the narrowing of interest margin,the banking industry,which mainly focuses on traditional deposit and loan business,is facing tremendous pressure.Under the new normal economic situation,banks will accelerate business reform,from traditional deposit and loan business to light assets business.At the same time,the number of people with high net worth and the scale of assets are increasing.How to realize the preservation and appreciation of wealth has become a problem of great concern to them.However,they often lack experience and innovation in wealth management,and they urgently need a professional and responsible team to help them achieve a reasonable asset allocation.Private banking business is a package of specialized,high-level and privatized financial products and services provided by commercial banks for wealthy people or families with a certain scale of wealth,whose main purpose is to preserve and increase the value of their assets.Developing private banking business is the touchstone of financial innovation in banking industry.It is an important outlet for China's commercial banks to improve their competitiveness.It is also the focus of development of strategic transformation and the new profit growth point.However,the domestic private banks have just begun,and there is no real systematization at present.There is still a lot of room for future development and improvement.Of course,while having a lot of potential for development,private banks will face many problems in the future,such as how to connect high-end wealth management,how to protect family wealth as the goal of investment portfolio strategy,how to give the next generation of family members the right to participate in family property decision-making,and so on.Therefore,how to innovate the original marketing mode in the development of high-speed market economy,effectively meet the needs of customers,enhance the loyalty and contribution of private bank customers,improve the market competitiveness of banks,and further increase bank profits,these are urgent problems to be solved.The author believes that the discussion from the perspective of high net value customer needs can highlight the essence of the problem,so this paper first through questionnaires and other ways to understand customer needs.After analysis,it is found that the demand of high net value customers shows the trend of diversification of investment fields,customization and specialization of product and service,internationalization of investment horizon,and integration of service demand.Wealth preservation,creation and inheritance are the primary needs of high net worth customers for wealth management.In addition,the ability to brand,professionalism,service quality and level,product competitiveness and risk control has become an important factor for high net worth customers to choose wealth management institutions.The continuous change and upgrading of customer demand put forward higher requirements for the business capability and product services of private banking.However,the problems existing in the private banking business of Bank of Communications,such as low brand influence and market share,lack of professionals,serious homogeneity of products,lack of value-added services,insufficient application of information technology,and the need for improvement of internal management,together with the background of inter-industry competition,increasingly stringent regulatory requirements,and Internet financial shocks,have prevented Bank of Communications from being better net.Value customers to provide cross-domain,diversified,personalized,professional wealth management services.Therefore,in view of the internal and external situation faced by the private banking business of Bank of Communications,this paper puts forward suggestions and suggestions on improving the product chain and value-added services,strengthening the research and development of exclusive products,enhancing the overall competitiveness of Bank of Communications,improving the organization and assessment mechanism,building professional personnel,and promoting the digitization of private banking services.Banking business can occupy a place in the current fierce competition,truly realize the development orientation of your wealth management bank,and provide some reference for other commercial banks in China to develop private banking business.