Best private bank for family offices 2017
China Merchants Bank Private Banking
Enriching family wealth and passing it on to the next generation is at the heart of China Merchants Bank (CMB) Private Banking offering. It wants to provide professional investment consulting services and unique investment opportunities to high net-worth clients.
China Merchants Bank Private Banking offers a wide variety of high-end client services, from family trust and tax planning, to legal consulting, corporate finance and offshore financial services. Its family office service – an increasingly important function for private banks everywhere – was first unveiled in 2012. It now serves families with total assets of at least Rmb500 million ($72 million) and at least Rmb50 million in assets under active management by the bank.
CMB Private Banking offers tailored and unique wealth planning solutions to family offices, including wealth inheritance and tax-planning advice, legal consulting and insurance planning.
As of October 2016, CMB Private Banking was managing the wealth of more than 200 Chinese family offices – more than any other mainland lender. The bank continues to innovate and build on its first-mover advantage, by popularising family trusts, exploring discretionary account services and promoting its increasingly sophisticated cross-border financial services.