ICBC Wealth Management, the full name of ICBC Wealth Management Co., Ltd., is a wealth management subsidiary of ICBC, which holds 80% of the shares. The main business of ICBC's wealth management is divided into three aspects: 1, public or non-public issuance of wealth management products to the public; 2. Provide financial consultancy and financial advisory services; 3. Other businesses approved by China Banking Regulatory Commission. ICBC mainly performs banking functions, such as absorbing public deposits, issuing short-term, medium-term and long-term loans, settlement, bill discount, issuing financial bonds, interbank lending, providing letter of credit services and guarantees, etc.
1. What is the relationship between ICBC Wealth Management and ICBC?
ICBC Wealth Management is a fund management company jointly funded by Industrial and Commercial Bank of China and Credit Suisse, in which ICBC holds 80% of the shares and Credit Suisse holds 20%. Strictly speaking, ICBC Wealth Management is a wealth management subsidiary of ICBC. There are still some differences between ICBC and ICBC in business scope. The business operation of ICBC mainly includes four aspects: first, publicly issue wealth management products to unspecified public, and conduct investment management on the property of entrusted investors; Second, non-public issuance of wealth management products for qualified investors, and investment management entrusted investors with finance; The third is to provide financial consultants and consulting services; The fourth is to operate other businesses approved by the CBRC.
Although ICBC can also issue wealth management products, it cannot issue funds, but can only issue wealth management products with a fixed term; Most products issued by ICBC Wealth Management are fund wealth management products such as Public Offering of Fund and private equity funds.
Two. Icbc financial management
ICBC Financial Management is a financial subsidiary of ICBC. ICBC Wealth Management Co., Ltd. was established on May 28th, 2009, and its registered place is 6th floor, No.96 Taipingqiao Street, Xicheng District, Beijing. According to Aiqi, the shareholder is Industrial and Commercial Bank of China with a shareholding ratio of 100%.
The business scope of ICBC Wealth Management Co., Ltd. includes non-public issuance of wealth management products to qualified investors and investment management of entrusted investors' property; Publicly issue wealth management products to unspecified public, and invest and manage the property of entrusted investors; Financial consulting and advisory services; Other businesses approved by China Banking Regulatory Commission.