资管部与理财子公司：何去何从？

Asset Management Department and Wealth Management Subsidiary: Where to Go?

随着2018年《商业银行理财子公司管理办法》和《理财子公司管理办法》的相继颁布,标志着监管部门对银行理财业务的组织形式、业务内容等将会有明显的调整,银行资管业务也将迎来重大的调整和变革,这对当前金融机构和商业银行在资产管理业务的规模、风险隔离和打破刚兑的趋势上都提出了更高的要求。一方面,子公司和资产管理部这两种不同的组织形式各有自身的优、劣势。子公司在投资范围、产品销售、机构合作方面拥有更多的主动和灵活性,而资产管理部则在渠道、风控、平台、资源聚焦等方面具有先天优势。商业银行面对这两种不同类型的机构需要按自身业务特点谨慎选择。另一方面,资管业务的格局将会被重新定义和改写,两种模式也需要在竞争的基础上不断寻求合作,在相互取长补短的竞争与合作中共同进步和发展。

With the successive promulgation of the Measures for the Administration of Wealth Management Subsidiary Companies of Commercial Banks and Measures for the Administration of Wealth Management Subsidiary Companies in 2018, it indicates that the regulatory authorities will have obvious adjustments to the organizational form and business content of banks’wealth management business, and bank asset management business will also undergo major adjustments and changes, which puts higher requirements to the current financial institutions and commercial banks in scale of financial asset management, risk isolation and breaking the trend. On the one hand, the two different organizational forms of subsidiary company and asset management department each have their own advantages and disadvantages. Subsidiary companies have more initiative and flexibility in terms of investment scope, product sales, and institutional cooperation, while asset management department has inherent advantages in terms of channels, risk control, platforms, and resource collection. In the face of these two different types of institutions, commercial banks need to choose carefully according to their own business characteristics. On the other hand, the pattern of asset management business will be redefined and rewritten, and the two models also need to continuously seek cooperation on the basis of competition, and jointly progress and develop in competition and cooperation that complement each other.