The development and future of private banking service in Taiwan

• Main Authors: Chia-yun Wang, 王家芸
• Other Authors: Nai-fong Kuo
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/22365338341679086699

碩士 === 世新大學 === 財務金融學研究所(含碩專班) === 101 === In recent years, the global population of high net wealth individuals, HNWIs, has , accompany with the economies boom in Asia emerging market ,reached to its highest level ever since. According to the “2011 world wealth report “published by Capgemini Consulting and Merrill Lynch Wealth Management, the global population of HNWIs grew to 10.9 million, with their financial wealth total to US$42.7 trillion. Among all regions, Asia is the fastest-growing region. In 2010, there were more than 94 thousand HNWIs in Taiwan, which shows that wealth management is quite potential in Taiwan. Due to different appetite and preference by HNWIs on their asset, Private banking service was born under this situation. In the past, there was no official definition on private banking service . Thus, in order to find out what private banking service is, first we review some past-existing literatures on private banking service and organize the origin and historical background of private banking service. In addition, we describe the core profile of private banking service through finding its product, service scope, customer threshold and customer preference. At the same time, we discover the current status of wealth distribution in the world’s major regions and Taiwan area, trying to explore whether there is any potential and opportunities for developing private banking service in Taiwan. This study is conducted by in-depth interview with senior customer relation officer (CRO) in Taiwan private banking industry. The interview cover several topics such as the future of private banking service in Taiwan, the difference in service and product between local and international private bank, and private banking market and opportunities among Hong Kong, Singapore, China, and Taiwan. The last, we summarize the value chain in Taiwan private banking industry, the key factors to success for international bank, and the future trend in Taiwan private banking After deeply discussing with senior CRO, We think there are three possible routes that Taiwan private banking service may follow: One possible trend, due to the saturated private banking market, private banking service in Taiwan would gradually evolve to private wealth management, a service between private banking and wealth management; another one, thanks to cross-border RMB settlement and clearing agreement is going to be effective in Taiwan, More China’s HNWIs would come to Taiwan for private banking service, the third one, the core business of Taiwan private banking service would swift from prevailing asset allocation to succession planning.