CMBI Private Wealth Management Center is Opened


CMB Strategically Expands into the Overseas Private Banking Management Business

(Hong Kong, September 22, 2015) On September 22, CMBI Capital Corporation Limited, a wholly-owned subsidiary of China Merchants Bank, launched an opening ceremony for CMBI's private wealth management center in Hong Kong. CMB's President Tian Huiyu, Vice President Liu Jianjun, and Vice President Zhao Ju (also serving as CMBI's CEO), Wang Jing, General Manager of the Private Banking Department, and other senior officers attended the event for the opening of the center.

Tian Huiyu, president of China Merchants Bank, said: “CMBI is a full-service investment banking platform we have set up in Hong Kong. As the only wholly-owned investment bank within CMB Group, the company implements a diversification strategy to provide a full range of investment-banking financial services for local and global institutional customers, corporate customers and individual investors by leveraging the resources and platform from the headquarters. Today, we are very pleased that CMBI Private Wealth Management Center starts its service. This is the first wealth management service platform within the CMB group based on investment banking. I hope the CMBI Private Wealth Management Center will become a bridge connecting customers to the core resources of CMBI and CMB, as well as a bridge between the Mainland and Hong Kong, and the Mainland and global financial markets, continuing to create value for CMB's customers.”

By branching out into overseas private banking, China Merchants Bank seeks to leverage the linkage between institutions in and outside China, build an overseas integrated service platform to offer a comprehensive set of cross-border financial services, and develop globally optimized product portfolios that meet customer demand for global asset allocation. According to the 2015 China Private Wealth Report jointly published by CMB and Bain & Company, the wealth of China's high net worth individuals has continued to grow rapidly. At the same time, high net worth individuals have a growing demand for overseas investment opportunities, and are increasing their investment outside China. The survey revealed 37% of the high net worth individuals and 57% of the ultra-high net worth individuals have invested overseas. An increasing portion of the high net worth individuals are expected to diversify their asset allocation across the border over the next two years. High net worth individuals are beginning to seek profits from overseas investment, increasingly weighted toward equity asset classes such as stocks. Hong Kong ranks as the most popular destination of investment, followed by the United States, and Canada and Singapore. Thanks to easy communication and a shared cultural background, as well as their robust performance in the mainland market over recent years, Chinese-funded banks have earned growing trust from customers who are looking to invest overseas. Driven by its “We are here for you” service philosophy, China Merchants Bank is expanding overseas to meet the needs of its high-end clients for offshore financial services.

Tian Huiyu added, “In Mainland China, CMB's retail banking service contributes half of the bank’s total profit, well above the average level. More notably, its private banking business unit manages far more total assets than other players in China’s banking industry. Furthermore, our private banking business unit is making its foray into overseas markets. In May this year, we formally set up an overseas private banking division to coordinate and organize the private banking business for various overseas units. We have established private banking centers in Wing Lung Bank, CMBI, CMB branches in Singapore, New York, and Luxembourg, and Los Angeles for substantial operations. In the early stages, we will mostly serve our high net worth clients looking to invest overseas.”

—The End—

About CMBI
CMB International Capital Corporation Limited (“CMBI”) is a wholly-owned subsidiary of China Merchants Bank Company Limited (“China Merchants Bank”)incorporated in Hong Kong with approval from the China Banking Regulatory Commission. CMBI and its subsidiaries implement diversified business strategies. Powered by the financial strength and outstanding reputation of its holding company as well as its strategic goal of “creating asset-light banking and building one body with two wings”, we are dedicated to providing corporate and individual customers at home and abroad with a comprehensive range of investment banking financial services including corporate finance, securities agency, asset management, wealth management, and direct investment.