ICBC invited several international marketing experts to set up professional team in market analysis and product innovation. It will focus on the launch of quantitative investment products to emerging markets, FX market. They are a strong force to drive ICBC's product innovation.
Chen Xiaoyan said, ICBC places asset management as a strategic business to drive ICBC's business re-orientation and sustainable development. Asset management services can be a bridge or link to bring together the customer and capital market and drive the innovation in wealth management market. The service can also improve the level of customer services, help customers create good investment return. From a bank's perspective, asset management business is an important source of intermediary business revenue for commercial banks since banks only act as advisor on wealth management investment, trustee and invest-on-behalf, and collect commission and banking fees.
Wealth management products for customers are off-balance sheet records. Investment assets of non-capital guaranteed, floating-income wealth management products are not counted as a bank's risk assets, no capital of the bank is involved. They are important supports for a commercial bank to change its business structure, achieve optimal use of capital, withstand cyclic risk and enhance stable operation. Besides, asset management business can feed a leap forward to related business such as asset custody, investment banking or savings deposit. It demonstrates the enormous potential of an emerging business in being a significant driver of integrated business performance in a bank.
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