Best securities house in wealth management 2023
Nimble, resilient and professional are all words that come to mind when thinking of China International Capital Corp’s wealth management franchise. Just look at how the securities house has performed over the past year, despite turbulent market conditions.
Revenues from the wealth business were close to Rmb7 billion ($1 billion) in 2022, up by roughly 7% from the previous year. CICC’s advisory service, which aims to help clients allocate assets based on their risk appetite, also did well, and the number of clients rose 15% from 2021.
Credit goes to the team led by Wu Bo, who is a member of the management committee, head of equities, and president of CICC Wealth Management.
CICC Wealth Management was launched in late 2019, the result of the integration of CICC’s wealth management business founded in 2007 and the China Investment Securities Co brand. With that combined firepower, CICC wealth management has more than 6,000 staff, mainly offering trading, investment management and financial solutions services.