| Due to the increasing competition in the securities industry in recent years,the "Commission war" is escalating,which leads to the continuous reduction of the profit contribution rate of brokerage business.In addition,due to the implementation of financial supply side reform,the expansion of financial opening-up and the implementation of comprehensive registration system,securities companies have to speed up the transformation of traditional brokerage business.Meanwhile,The all-round development of China’s economy has promoted the rapid accumulation of social wealth,and the public’s demand for wealth management is growing.With the implementation of the Guiding Opinions on Standardizing the Asset Management Business of Financial Institutions,the wealth management business market of securities companies has ushered in a new starting point.As the first Sino foreign joint venture investment bank in China,China International Capital Corporation Limited(CICC)started its wealth management business earlier,but at present,some businesses have obvious shortcomings and the performance growth rate is relatively slow.Therefore,as a pioneer in the wealth management industry of Chinese securities companies,how CICC breaks through the bottleneck of development and further builds itself into a world-class wealth management organization is a major challenge.Therefore,this thesis chooses CICC’s wealth management business development strategy as the study object.Firstly,this thesis expounds the relevant theories,analysis models and definitions;Then,PEST analysis,Porter’s five forces analysis and EFE matrix are used to analyze the external environment of CICC’s wealth management business;Then it analyzes the internal environment of CICC’s wealth management business from the current situation of business development,resources and capabilities,and uses IFE matrix to score;Finally,SWOT analysis is used to make strategic choices for CICC’s wealth management business,and formulate implementation and safeguard measures according to the strategic objectives.This thesis holds that the opportunities for the development of CICC’s wealth management business are greater than the threats,and the disadvantages are slightly greater than the advantages.CICC should adopt the WO strategy of taking the opportunities and overcoming the disadvantages.This thesis holds that the short-term development objectives of CICC’s wealth management business are: in the next three years,guided by customer demand,strengthen talent introduction,optimize talent cultivation system,and promote a more professional wealth management team;Focus on financial technology,increase capital investment,improve digital service level,and promote the substantial growth of wealth management customers;Take the policy dividend as an opportunity to strengthen business integration,create comprehensive and high-quality products,and promote the continual expansion of the scale of wealth management.The medium and long-term development goal is to gradually establish a mature high-quality and efficient professional wealth management team,a refined and differentiated customer layered service system,and an open and one-stop asset allocation solution for the whole industry chain in the next decade,so as to achieve the first number of customers and wealth management scale in China and become the first in China A world-class wealth management organization of securities companies.This thesis suggests that CICC should improve its business chain and provide diversified products;Pay attention to customer stratification and provide differentiated services;Increase investment in science and technology and speed up digital construction;Strengthen planning and training,establish professional teams and other measures to further promote the implementation of WO strategy.At the same time,the implementation of WO strategy is guaranteed by optimizing the organization and management structure,improving the assessment and incentive mechanism,improving the level of risk control and strengthening the construction of corporate culture.Based on the background of expanding financial openness,implementing the comprehensive registration system and the implementation of the Guiding Opinions on Standardizing the Asset Management Business of Financial Institutions,this thesis studies the development strategy of CICC’s wealth management business,which has important reference value and significance for promoting the development of CICC and other securities companies’ wealth management business.However,as the development of CICC’s wealth management business is greatly affected by policy factors,there may be some problems in this thesis,such as the analysis is not systematic and complete due to the inability to cover the latest policies in time.The follow-up will continue to deepen the study according to the policy changes. |
