评论
打印
Another benefit of the joint ventures is their links to China's largest financial firms. The banks and their tens of thousands of branches were key intermediaries during the first era of wealth management and, say experts, may also define the next. Their wealth-management subsidiaries have vast portfolios and huge numbers of clients. Take CCB. It has more than 14,700 branches; last year it managed 2.2trn yuan in wealth-management products and attracted more than 4.4m new investment and wealth-management clients. Access to customers is "one of the benefits of partnering with one of the largest banks in China", says Susan Chan of BlackRock.
合资企业的另一个好处是它们与中国最大的金融公司有联系。在财富管理的第一个时代，这些银行及其数万家分支机构是关键的中介机构，专家们表示下一个时代可能也会由它们来决定。他们的财富管理子公司拥有庞大的投资组合和大量的客户群。比如建行，它拥有14,700多家分支机构。去年它管理了2.2万亿元的理财产品，吸引了超过440多万的新投资和理财客户。贝莱德的陈蕙兰表示与客户接触是“与中国最大银行之一合作的好处之一”。
Yet success will depend on foreigners' ability to establish and market themselves. Goldman and BlackRock have some name recognition in China by virtue of their size. Amundi and Schroders, by contrast, are unknown outside financial circles. And teaming up with home-grown banks has some downsides. A potential customer at a bank branch will be offered a suite of products, which will include those designed and branded by the joint ventures, but also those designed solely by the bank. Online, joint-venture offerings will probably appear on smartphone apps on a list of commoditised products. The foreign groups will therefore have to make sure their offering is advertised sufficiently to clients— no easy task given that tens of thousands of banks' relationship managers will be responsible for sales. It can be done, but only with hefty investment in staff training, says Philip Leung of Bain, a consultancy.
然而，成功将取决于外国公司建立和推销自己的能力。高盛和贝莱德凭借其规模在中国获得了一定的知名度。相比之下，阿蒙迪和施罗德在金融界之外并不为人所知。与本土银行合作也有一些缺点。银行分行的潜在客户将获得一套产品，其中包括由合资企业设计和品牌的产品，也包括由银行单独设计的产品。在线的合资产品可能会出现在智能手机应用程序的商品化产品清单上。因此，外资集团将必须确保向客户充分宣传自己的产品——这并非易事，因为数以万计的银行客户关系经理将负责销售。贝恩咨询公司的梁霭中表示这是可以做到的，但必须在员工培训方面进行大量投资。
Another problem is competing with superstars such as Mr Zhang, who often manage money for giant mutual funds. Financial news in China is abuzz with stories on the performance of star managers. Many retail investors make decisions based on such information. Few clients are interested in a fund's risk controls, notes Fabrice Maraval, an executive who has worked at two Sino-foreign financial ventures. Instead, they ask, "What's your ranking on the list of top fund managers", he says.
另一个问题是与张勇这样的超级明星竞争，他们经常为大型共同基金管理资金。中国的财经新闻充斥着关于明星经理人业绩的报道。许多散户投资者基于这些信息做出决定。曾在两家中外金融企业工作过的高管法布里斯·马拉瓦尔指出很少有客户对基金的风险控制感兴趣。相反，他们会问：“你在顶级基金经理名单上的排名是多少？”
Executives at several joint ventures bristle at the idea of hiring stars who market their funds. "It's just not our culture," says one. Instead they must slowly build trust with clients through solid performance and prudent risk controls. Zhong Xiaofeng of Amundi describes his group's strategy in China as a "long-haul effort". If foreigners are to give the stars a run for their money, it will have to be.
几家合资企业的高管对聘请明星基金营销人员的想法感到愤怒。其中一人表示：“这不是我们的文化。”相反他们必须通过稳健的业绩和审慎的风险控制慢慢与客户建立信任。Amundi的钟晓峰将其集团在中国的战略描述为“长期的努力”。如果外国人想要和这些明星们一较高下，那就必须如此。
译文由可可原创，仅供学习交流使用，未经许可请勿转载。
