For the purpose, the senior executive vice-president of SCB, Yol Phokasub, said that the bank has been strengthening its high-income business segment by developing a private banker (PB) team separate from the existing relationship managers (RMs).
While a PB will offer specialized financial advice, RM will offer general financial services. Currently, SCB has 40 PBs and 300-400 RMs taking care of its 7,000 private-banking customers with total AUM of THB500 billion and the minimum AUM required to be classified as a wealthy customer is THB50 million.
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Phokasub said that SCB expects to increase the AUM of HNW clients by 20% in 2013 in line with the growth of the overall industry’s wealthy customers, and added that its customer base may expand only slightly, as the bank will focus mainly on quality.
"In recent years, growth rates for AUM and customers have run 15-20% a year. Market development and the changing investment behavior of new-generation customers supported the positive growth," Phokasub said.
Meanwhile, the head PB Lalitphat Toranavikrai said that SCB has also opened an Investment Intelligence Center to provide investment information and research results to customers.
"The investment tendency this year will centre on the equities market and property funds. But portfolio allocation depends on the investment objectives of individual customers," said Lalitphat.
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By GlobalDataSCB oversees about 7,000 private banking customers with combined assets under management of more than THB500 billion.
