First ever China Private Banking and Wealth Management Forum was staged on 25 September 2006 in Shanghai Science and Technology Museum. The event was organized by respected Harvard Business Review (China), Money Talks Magazine, China Business Radio and Rex Events & Public Relation. The Forum was attended by more than 450 guests, amongst them featuring 52 bank elites ranging from chief representative to CEO. The forum consisted of representatives from 15 local banks whereas 15 different countries nominated representatives to attend the Forum. A totally of 36 foreign banks participated the Forum coupled with 20 World famous financial entities and 40 multinational enterprises. The Forum was highly perceived by a total of 81 reporters, with 96 local and internationals media reported the Forum.

By December 2006, Private Banking will be one of the most profitable financial services in China and it will be fully integrated into the Chinese financial market. Merrill Lynch discovered that China has more than 320,000 high net worth individuals which means it will be a significant increase in demand of private banking and wealth management business. The forum discussed critical issues before the integration takes place and it is time to celebration the historical opening of Chinese financial market. The knowledge sharing process is essential when local banks are way behind in technological advancement, corporate management, product development, personnel recruitment and business development compared to foreign banks. Local banks should be paying full attention for coming competitions and it will likely affect several key industries namely; banking, insurance, stock-exchange, funds, risk management corporations. Speakers from local and international enterprises shared their insights with elite banking professionals and the enormous success in the day time forum was followed by gala-dinner in the evening.

The day time forum began when Mr. Jun Zhang Liu of China Banking Association gave an impressive opening statement and followed by official opening announcement by Chairman of Financial Trade Union Madam Jie Sheng He and Chairman of Shanghai Insurance Association Madam Jing Zhi He. The opening ceremony of Gala-dinner began when Consul General of United Kingdom Madam Sue Bishop, CEO of Forbes China Mr. Melvyn Goh welcomed Sir John Major to begin his inspirational speech on “Changing World”. The gala dinner, arguably the most successful social event in second half of 2006; was attended by Government officials Chairman of Financial Trade Union Madam Jie Sheng He, Deputy Director General China Banking Regulatory Commission Shanghai Bureau Madam Pei Li Hong and hundreds of banking elite.

The gala-dinner was sponsored solely by Royal Salute – The Ultimate Scotch Whisky. The enormous support of Royal Salute had created spotlights in the evening. Exclusive invitation to 100 distinguished individuals with personal worth of more than two millions US dollars to attend a global recital whisky tasting event. Moreover, the presence of global ambassador of Royal Salute Mr. Peter Prentice had allowed distinguished guests to involve and interact on the background of Royal Salute. The redefinition of Royal Salute matched perfectly with the transiting of private banking and wealth management in China.