China
ICBC to build team of international marketing experts
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.
ICBC to build team of international marketing experts
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 gives Impetus to ICBC's transformation
ICBC's balance of assets under management reached RMB 609.4 billion at the end of November 2010. Thus ICBC tops the domestic league table and remains as the largest asset management bank in the country. The robust growth of the asset management business not only boosts the Bank's intermediary business earnings, but also brings good return to the customers. Just in 2010, ICBC paid RMB 11.8 billion in investment return to customers.
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