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Private banking for rich 'faces golden era'

By Wu Yiyao (China Daily)

08:56, December 25, 2012

China is driving most of the growth of Asia's high net worth individuals' market. The country is estimated to contribute more than 50 percent of the growth in Asia. [Zhang Han / For China Daily]

Wealth managers face a massive learning curve but great potential

In February 2008, when Wang Lu, a 24-year-old graduate, received a job offer from a Beijing-based bank, she was proud of herself. The job was private banking account manager and she stood out among thousands of qualified applications, all of whom held at least a postgraduate degree from world-renowned universities.

As one of the first professionals in the private banking sector in China, Wang can still recall her first days.

"I sat in a spacious room. It was sunny and well decorated and it had a library covering various topics from antiques to the zodiac," said Wang.

She sat in that office alone for almost two months with no clients.

"I lost five kilograms in weight by walking around in my office and reading a dozen Chinese medicine books. Otherwise I'd have been bored to death," said Wang.

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