Ping An Bank’s private banking arm earns top honours for family office and philanthropic planning- The Asian Banker

Ping An Bank’s private banking arm earns top honours for family office and philanthropic planning- The Asian Banker

The bank clinched two prestigious Wealth&Society Awards this year for Best Family Office Services and Private Bank Philanthropic Planning, highlighting its contributions to China’s private banking sector

The Asian Banker acknowledged Ping An Bank’s exceptional contributions to comprehensive family office services and pioneering philanthropic planning within China’s private banking sector with two awards this year. The bank’s private banking division won accolades for Best Family Office Services in Private Banking in China and Private Bank Philanthropic Planning Service of the Year at the Wealth&Society Awards 2023 held in December. 

Family inheritance is a paramount concern for China’s high-net-worth families, with an astounding RMB 18 trillion ($2.5 trillion) expected to be passed down in the next decade and RMB 49 trillion ($6.9 trillion) in the next two decades. Ping An Bank’s Private Banking Family Office stands out by addressing the diverse and lifelong needs of high-net-worth clients, encompassing financial and non-financial aspects like health, talent, social resources, family relationships, and business growth. The bank’s six specialised offices provide a comprehensive framework for inheritance services, offering personalised solutions that reflect a deep understanding of client needs. 

Strengthening foundations of family inheritance 

The Ping An Family Office also focuses on the foundation of family inheritance, including health check-ups and risk assessments, ensuring a clear understanding of the family’s situation to curate effective next-step solutions as well as long-term strategies to reach evolving goals. The bank emphasises resource linkages and team configuration, adopting a ‘1+1+N’ service model to provide high-net-worth clients with dedicated private bankers, comprehensive advisors, and expert consultants. The model mirrors the bank’s focus on one customer, one-stop services, and a strong range of products to suit the needs of each client. 

As family guardians, the Ping An Family Office has served nearly 25,000 clients, ensuring the continuity of family legacies, earning them the Wealth&Society 2023 award for Best Family Office Services in Private Banking in China. 

Creative philanthropy serves communities 

Within the Family Office, the Philanthropic Planning Office plays a pivotal role. This office integrates philanthropy closely with wealth management, forming a powerful tool for client family inheritance, family culture development, and the continuation of social values. The bank’s approach to philanthropy goes beyond mere donations, focusing on systematic planning and management, including program formulation, execution, and social-impact management, creating a comprehensive philanthropic ecosystem. 

Personalisation is key, with tailored solutions for each client’s needs, values, and family characteristics. This includes customised financial account designs, trust accounts, and investment management. The bank’s philanthropic ecosystem ensures efficient management and use of charitable donations, promoting transparency and efficiency in philanthropic activities. 


Ping An Hande Charity Trust, established by a client, Zhong, fosters talent building for youth in the field of intelligent manufacturing equipment to serve local industries

One notable example is the Ping AnHande Charity Trust, establishedby a client, Zhong, to support education and other areas. The trust, together with the bank’s strategies aimed at fulfilling Zhong’s philanthropic targets, has made a significant impact on intelligent industry talent development, benefiting multiple companies and regions.  

The bank established a board of directors to oversee operations, ensuring efficient and transparent use of funds. The trust’s initial project, the Lide Intelligent Industry Talented Engineer Training Program, has connected the internship needs of students with the talent needs of frontline enterprises. It has trained and placed nearly 500 skilled workers in the field of intelligent manufacturing. Most of the workers come from the central and western regions in China. This initiative has benefitted over 10 companies and has been an ongoing success. The initiative is expected to grow and make a genuine difference to the livelihoods of workers and their communities, as well as businesses over time, faithfully executing Zhong’s wishes.  


The Yuting philanthropy education campaignsfunded by client Lu’s descendants aim to broaden the horizons of youth from his hometown, a small county in Henan Province, and together with initiatives in Shanghai and Hong Kong, urge youngsters to dream big and succeed

Alongside, the bank’s Yuting Action public welfare project, supported by the Shenzhen Social Welfare Foundation, has proven effective in promoting rural youth development. In November, the project was recognised by Nanfengchuang magazine in its report as being among the most innovative in the field of youth development.  

The Yuting special fund was established by descendants of the Lu family. Lu came from a small county in Henan Province and aspired to serve his hometown by giving its younger generations opportunities to “dream big and succeed”. Ping An Bank’s Private Banking provided planning services to enable the Lu trust to transform from a grassroots organisation to a more professional and effective promoter of rural youth development. Through a series of themed activities in Henan, Shanghai and Hong Kong, the Yuting campaigns encourage youth to explore the world outside their rural communities.  

Ping An Bank’s Private Banking Philanthropic Planning Service offers innovative one-stop, personalised, full-cycle, and digitally supported solutions. These innovations have positioned the bank uniquely in the philanthropic field, providing clients with comprehensive, efficient, and professional services. Additionally, it promotes the integration of philanthropy and wealth management, facilitating family inheritance, family culture development, and the continuation of societal values, earning Ping An Bank the Wealth&Society 2023 award for Private Bank Philanthropic Planning Service of the Year in China. 

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by : on 2023-12-15 14:55:00

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