Best private bank for family offices in China 2023
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Best private bank for family offices in China 2023

China Construction Bank Private Banking

Mei Yufang, China Construction Bank Private Banking.jpg
Mei Yufang, CCB Private Banking

China Construction Bank Private Banking has rapidly become the country’s leading private bank for family offices.

That is not surprising given the strength of parent CCB, which is one of the largest banks in the world by assets. But the private bank’s family office offering has come into its own since its establishment in 2018.

A big development came in 2021 when CCB’s family office business was upgraded to offer a four-in-one service to ultra high net worth individuals. This covered wealth management and inheritance, family governance, business continuity and philanthropy.

The model was given a boost last year when CCB private bank, led by Mei Yufang, deputy general manager, private banking department, homed in on individualized and tailor-made offerings for the wealthy.

Those efforts are paying off. By the end of December 2022, CCB managed over Rmb18 billion ($2.6 billion) in personal financial assets of family office customers. Total family assets of family office clients stood at nearly Rmb300 billion.

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