Currently the competition of Taiwan bank wealth management has reached the climax. There might be hidden risk from this rush. In this highly competitive environment on growth and profit pursuing, the problems of the performance evaluation system, such as low employee stability and lack of product segments for the customers of M shaped society, result in further challenges, specially the aggressive action of private bank on big customers. Besides, the organization flexibility would affect the future of the bank herself. The study is based on the organization culture and the Resource-Based competitive advantage of the foreign bank as the company advantage to modify the organization strategy, to higher employee stability and to enhance customer relationship. The study uses RBV as research method by analyzing the resource of the customers, the employees and the banks to understand the advantage of the wealth management in foreign bank and how the bank stays sustainable operation because of the resource accumulating. Furthermore, from the result of RBV, we can understand how the bank can strengthen continuously the existing resource advantages and affect the employees and customers.

After the 11th National Conference of China in December 1978 and the reform of economic policy of China, the private enterprises have dramatically changed the economic scale and industrial structure of Mainland China. The timing for opening to private banks. The risks for China¡¦s state-owned business banks are too concentrated, the pace for reforms in China¡¦s state-owned business banks is slow, the lack of adequate competitive environment is the main reason for state-owned business banks¡¦ lack of motivation for reforms. Competition mechanism can be gradually established in China¡¦s financing area¡AIt is a way that do small and medium-sized private enterprises find it very difficult to secure a loan when the balance is great between the interest rates for depositors and those for borrowers in bank. It is exist definitely after calculated the fund gap of private enterprises, and will the adverse impacts be on China¡¦s financial industry upon China¡¦s entry into WTO. To know the relationship between private banks and opening of financial sector. Pose the main points of prepare opening to private banks in Mainland China

Dans la continuité des travaux de Doney et Cannon (1997), Morgan et Hunt (1994) et Sirdeshmukh et al (2002), cette recherche se propose de tester un modèle structurel intégrateur de la confiance, de ses antécédents et conséquences, appliqué au contexte de la relation banque-client en Tunisie. Ce modèle cherche à mesurer l’effet des facettes institutionnelle et interpersonnelle de la confiance sur l’orientation long terme du client, et ce pour deux structures de gouvernance (publique et privée). Les résultats de la recherche confirment les partis pris conceptuels. Ils valident la structure de la confiance en tant que construit à deux facettes (institutionnelle et interpersonnelle) et trois dimensions (compétence, intégrité et bienveillance). Les effets anticipés sur l’engagement s’avèrent, par contre, contrastés par rapport à ceux révélés dans des recherches antérieures. Ils donnent aux aspects interpersonnels (confiance interpersonnelle et traitement préférentiel) et affectifs (satisfaction) de la relation un poids particulier par rapport aux aspects institutionnels (confiance institutionnelle et valeur perçue) dont les effets s’avèrent faibles, surtout dans la banque publique. Contrairement aux contextes européens et nord américains, la dimension sociale de l’échange s’avère déterminante en matière de construction de relations de confiance dans le contexte tunisien. Les résultats témoignent de l’encastrement de la relation bancaire dans le réseau des connaissances personnelles des individus et mettent en avant l’importance des liens faible, au sens de Granovetter, dans l’engagement du client. / In the continuity of the work of Doney and Cannon (1997), Morgan and Hunt (1994) and Sirdeshmukh and al (2002), this research tests a structural model integrating trust, its antecedents and consequences in the context of bank-client relationship in Tunisia. This model seeks to measure the effect of institutional and interpersonal facets of trust on the commitment of the client in his relationship with his bank, and this for two structures of governance (public and private). Research results confirm the conceptual bias, and validate the structure of trust as a two-facet (institutional and interpersonal) and three-dimensional (competence, integrity and benevolence) construct. The anticipated effects on commitment are, in contradiction, contrasting compared to those revealed in previous studies. They accord a particular interest to interpersonal (trust and preferential treatment) and affective (satisfaction) aspects of the relation vis–a-vis institutional aspects whose effects proved to be weak. In contrast to European and North American cultures, the social dimension of trade is crucial in building trust in the Tunisian context. The results demonstrate the embeddedness of the banking relationship in to the network of individuals and they underline the strength of weak ties, as apprehended by Granovetter, in the commitment of the client.

Abstract Title: Comparative Study Between Private and State-owned Banks: Technology and Management Perspectives Author: Khan, Enamul Haque Supervisor: Catherine Lions   Background: Bangladesh is a lower developing country with limited resources and income. In Bangladesh, both private and state-owned banks operate side by side but under dissimilar conditions. State-owned banks are obviously overstaffed but secured by the government guarantee while private banks need to be competitive and profitable to survive. Two major competitive factors are technology innovation and good governance system. Private banks in Bangladesh are providing complete online solutions and function with a decentralized management while state-owned banks behave opposite due to government’s traditional attitude. Therefore it is relevant to explore what the state-owned bank can learn from the private bank so that the former can be more effective and profitable like private banks. Purpose: The purpose is to explore what the state-owned bank can learn from its private competitor. My first purpose is to analyze the functioning of technological improvements that, due to generation change, are vital for banks in developing countries. Secondly, since good governance is necessary for the organization to be efficient, I want to identify the main differences between state-owned and private banks that influence the performance. Finally, how to adapt these issues by state-owned banks to improve the performance is other purpose of this study. Method: Unstructured interviews with qualitative approach were carried by interviewing a private bank and a state-owned bank expertise. Primary data collected through telephone interviews helps to identify the practice in the different ownership systems and how growth factors work. Secondary data works as accelerator of the primary data. Conclusion: I have found that state-owned banks have three major problems are: Poor IT infrastructure, clumsy managerial governance working on regulatory bindings and political influence. To overcome these problems, state-owned banks should try to move towards decentralization of managerial activities and meet the technology standard requirements. Key words: Information Technology (IT), Private Bank, State-owned Bank, Developing Countries, Management, Ownership, Government, Regulation, Politics, Interview, Primary and Secondary Data.

La privatisation a été identifiée comme un des phénomènes économiques les plusimportants de l’histoire récente, entre-temps la privatisation des banques a été acceptéecomme étant un des secteurs principaux de ce phénomène économique.En se basant sur l’importance de la privatisation des banques qui a lieu partout en Iran, cettethèse se divise en deux parties.Dans sa première partie, la thèse explore l’échec ou le succès de la privatisation desbanques en Iran en assumant comment la progression s’est faite durant les deux étapes deprivatisation et d’exécution, et spécifiquement afin d’identifier la combinaison de doublepropriété qui en est le résultat, ainsi que ses conséquences sur le contrôle de gestion desbanques privatisées.La deuxième partie se concentre sur la discussion concernant la condition de succèsnécessaire pour que les banques privées iraniennes continuent à fonctionner. À ces causes,la thèse essaie de localiser une compréhension des possibilités, des barrières et des limitesdes banques privatisées en particulier, et des transactions bancaires privées en général.Cette partie va également se concentrer sur les impacts de deux enjeux d’affaires de«Distribution d’actions Justice» avec la distribution 40%-50% des entreprises privatiséesparmi les déciles les plus bas du pays et « la propriété d’instituts semi-gouvernementaux »qui a formé la portion principale de la combinaison de propriété des banques privatisées.Subsidiairement, les méthodes pratiques probables proposées pour le succès des banquesprivées seront analysées en même temps que l’investigation de tout chaînon manquantprincipal, afin que le succès des banques privées en Iran continue.Cette thèse se veut originale de par son argument concernant une large étude détaillée de laprivatisation des banques en Iran, en se penchant particulièrement sur ses spécifications eten mettant en valeur la vulnérabilité et l’instabilité des banques privées dans les conditions actuelles de l’Iran, elle examine les diverses solutions qui permettraient de diluer le contrôlede gestion gouvernemental qui débouche du résultat de la combinaison de propriété desbanques privatisées, et se rendre compte de l’importance de l’entrée des investisseurs et desbanques étrangers comme étant le chaînon manquant du succès de la continuation desbanques en Iran. / Privatization has been identified as one of the most remarkable economic phenomena in recenthistory; the privatization of banks, meanwhile, has been known to be the core segment of thiseconomic phenomena.Following to the nationwide importance of bank privatization in Iran, the aim of this thesis aretwo folds.In the first part, the thesis explores the failure or success of the privatization of banks in Iranby assuming how it has been progressed at the two stages of pre-privatization and execution,specifically to identify the resulted ownership combination, and its consequences onmanagement control of the privatized banks.The second part focuses on the discussion of success condition for continuation of privatebanking in Iran. Therefore, the thesis attempts to locate an understanding of the prospects,barriers and limitations of privatized banks in particular and private banking, in general.This part also focuses on the impacts of two issues of “Justice Shares Distribution” whichdeals with distributing 40%-50% of privatized enterprises among the lowest deciles of thecountry and “semi- government institute ownership” that has formed a main portion inownership combination of privatized banks.Alternatively, the probable practical methods proposed for success in private banking will beanalyzed along with investigating any principal missing links of success continuation for theexisted private banking in Iran.The claim to originality in this thesis therefore lies in its argument about detailed cross studyof bank privatization in Iran with particular focus on its specifications, emphasizing thevulnerability and instability of private banking in the current condition of Iran, examine thedifferent solution to dilute the government’s management control due to the resultedownership combination of privatized banks and to find out the importance of entry of theforeign investors and foreign banks as the missing link in successful continuation of bankingin Iran.

財富管理源起於私人銀行，服務對象為高淨值資產之客層。金融監督管理委員會為促進國內金融環境發展健全，於2005年2月間頒布「銀行辦理財富管理業務應注意事項」、2005年7月間頒布「證券商辦理財富管理業務應注意事項」、2006年1月核准「人身保險業辦理財富管理業務」。規範人身保險業從事財富管理業務之範疇，歸納為人身保險業針對高淨值客戶，透過人身保險業務員，依據客戶需求，提供資產配置或財務規劃等服務，而高淨值客戶之條件，由人身保險業自行依據經營策略訂定。 隨著人口老化、財富愈趨集中、經濟環境之變遷，金融控股公司資源整合與金融監理相關法規逐漸完備等因素，人身保險產業由擅長提供人身保險商品，延伸至理財規劃及資產管理諮詢服務，也延伸經營管理相關問題，本研究就國內人身保險業經營財富管理業務，針對人壽保險公司實施財富管理業務提出建議： 1、加強財富管理業務之風險管理：應加強經營財富管理相關業務的經營風險辨識，進而提出有效的風險管理制度與政策。 2、強化內部稽核制度有效性：在兼顧經營效率下，建立有效稽核制度，使企業成為一個有機體。 3、確實瞭解客戶並落實客戶風險告知：一套瞭解、認識、接近客戶並取得客戶信任整合流程，是發展財富管理業務的關鍵。 4、提升業務人員教育訓練及專業培養：專業知識、教育訓練、管理規範及資訊系統輔助，使人員服務品質提升，更可以有效傳遞並確保客戶權益。 5、強化保險商品創新與財富管理市場定位：以人壽保險產業深入服務優勢，搭配商品服務及通路創新，以獨特性及附加價值，奠定財富管理定位。 同時亦探討現行保險監理機關監管財富管理必須重視的議題，如何明確定義人壽保險業者經營財務富管理業務檢查要點，修正財富管理業務需有獨立權責部門規定及開放投資型商品設計及管理費議題。本文同時評估現行人身保險業者經營財富管理業務之效益評估，並作為監理機關監管財富管理業務時參考。 / The “Wealth Management” service was created by private bank. It is designed to serve the customers with high net worth. In order to improve the financial environment to be well managed and to be wealthy developed, the Financial Supervisory Commission Committee announced the terms of “The Notice of Wealth Management Business for Banks” in February 2005, “The Notice of Wealth Management Business for Securities” in July 2005. The “The Rules for Life Insurance Companies Hosting Wealth Management Business” had been permitted to be announced in January 2006. It defined the business scope for life insurance companies to promote the wealth management business. The purpose of the wealthy management service sold by life insurance companies is targeted to serve the life insurance customers with high net worth. Through the life insurance sales, the life insurance companies can offer the capital allocation, financial planning based on customers’ request. For the criteria of “High Net worth” customers, it can be defined by each life insurance company. Due to the average age of population is becoming higher, wealth is becoming to be concentrated, economic environment situation is changing intensively, the financial holding companies integrated the resources, the rules of financial supervision is becoming completed, such kinds of change offer the opportunity for life insurance companies to extend their business scope to the territory of the consultant service for financial planning and wealth management. Such kind of change creates some administration and management issues. So the purpose of this study is to survey the current situations of wealth management business of life insurance to try to find the suggestions for the below topics. 1.Empower the risk management for wealth management business: How to empower the risk identification capability to propose the effective rules and policies for risk management. 2.Improve the internal audit mechanism to be more effective: How to establish or improve the internal audit mechanism without affect the business and company operation. 3.Learn more about the customers and solid executing the risk notification to customers: How to establish an effective SOP for realizing the customers’ exact requirement, approaching the customers and getting the customers’ trust. 4.Enhance the sales education training to enhance the service quality and empower the business competition ability: By integrating the IT resources and business management to establish an organized/effective sales education training package for improving the sales knowledge and business domain know how. 5.The enhancement for life insurance product creativity and clear marketing positioning ability/core competence for wealth management business: Taking the advantage of the existing sales network, combining the creative product, service and channel profile to establish the specialty and core competence. Meanwhile, this study tries to highlight some key issues like “the important topics shall be focused by the insurance supervision institute”, “the definition of the check points for the wealth management business of life insurance companies”, “how to revised the relative rules to request the wealth management business must be performed by the independent department”, “release the permission for the designation of Investment-oriented merchandise and management fee”. This study also makes the performance evaluation for the wealth management business of life insurance companies. It would be the valuable reference data for the relative supervision institute of government.

Submitted by Vinícius Molina (vinicius.lbm@gmail.com) on 2013-01-11T02:13:51Z No. of bitstreams: 1 Tese_Vinicius Molina_20130110_VF_PUBLICACAO.pdf: 1676647 bytes, checksum: decdd09b10a112867608c374dfb58e38 (MD5) / Approved for entry into archive by Eliene Soares da Silva (eliene.silva@fgv.br) on 2013-01-11T12:58:54Z (GMT) No. of bitstreams: 1 Tese_Vinicius Molina_20130110_VF_PUBLICACAO.pdf: 1676647 bytes, checksum: decdd09b10a112867608c374dfb58e38 (MD5) / Made available in DSpace on 2013-01-11T13:08:04Z (GMT). No. of bitstreams: 1 Tese_Vinicius Molina_20130110_VF_PUBLICACAO.pdf: 1676647 bytes, checksum: decdd09b10a112867608c374dfb58e38 (MD5) Previous issue date: 2012-12-12 / This work is in the field of Business Strategy and deals with the subject of internationalization of companies, specifically in the field of internationalization of Private Bank in Brazil. The main purpose of this study was to identify what factors drives the internationalization of companies in the Private Banking industry in Brazil. The methodology used in this research was based on a qualitative approach and had an exploratory nature. A case study of the International Private Bank of Banco Itaú Unibanco SA. was developed. Accordingly to this, 7 semi-structured interviews were conducted with professionals who work or have worked in the Private Bank of the selected bank. The main findings in the research were: (i) the business of Private Banking has not yet been the subject of specific analysis by those interested in the internationalization of banks, (ii) it was also identified that the authors that have studied the internationalization of banks did not resort to the Offshore Financial Centers (OFC) to explain the internationalization of financial institutions, this research suggests that it is of fundamental importance to analyze the OFC in order to understand the internationalization of the Private Banking industry, (iii) the main factors influencing the internationalization in the case selected are: the need of providing international financial services for clients from both domestic and international markets, and the search for new markets to expand the customer base, (iv) differently from what was appointed by previous researches, the present study suggested that one possible reason for bank internationalization is to follow domestic client's investments and financial flows made offshore, more than to follow the internationalization of current domestic customers;(v) finally, it is also suggested that the competition of the companies in the Private Banking industry in Brazil is not just related or driven by the international presence of its competitors, but by the capacity of linking different resources from different countries in order to generate value and competitiveness through this international network. / Este trabalho situa-se no campo de Estratégia Empresarial e trata do tema de internacionalização de empresas, mais especificamente da internacionalização no ramo de Private Bank no Brasil. O objetivo desta pesquisa foi realizar um levantamento dos fatores que influenciam a internacionalização de empresas atuantes no ramo de Private Bank no Brasil. Utilizou-se uma metodologia com abordagem qualitativa de natureza exploratória. Foi realizado um estudo de caso do Private Bank Internacional do Banco Itaú Unibanco S.A.. Foram realizadas 7 entrevistas semiestruturadas com profissionais que atuaram ou atuam no Private Bank do banco selecionado. Os principais resultados encontrados na pesquisa foram: (i) o ramo de Private Bank ainda não foi alvo de análise específica pelos interessados na internacionalização de bancos; (ii) também foi identificado que os autores que estudaram a internacionalização de bancos não recorreram à análise dos Offshore Financial Centers (OFC) para explicar a internacionalização das instituições financeiras, a presente pesquisa propõe que é de fundamental importância a análise dos OFC para o entendimento da internacionalização no ramo de Private Bank; (iii) os principais fatores que influenciaram a internacionalização no caso selecionado são: a busca de fornecimento de serviços financeiros internacionais para os clientes domésticos ou internacionais e a busca de novos mercados para a ampliação da base de clientes; (iv) sugere-se que ao invés do que proposto em outras pesquisas, a internacionalização em bancos não se dá por conta dos bancos seguirem seus clientes fisicamente, mas sim seguirem os investimentos e fluxos financeiros dos clientes; (v) finalmente, sugere-se também que a competição das empresas de Private Bank atuantes no Brasil não se dá somente pela presença internacional, mas sim pela capacidade de interligar recursos diferenciados presentes em diversos países e conseguir gerar valor através dessa rede.