Maybank Private Wealth, the private banking unit of Malaysian lender Maybank, is planning to hire relationship managers across Asia this year as part of its strategy to grab a slice of the Asia HNW market, the company’s head of private wealth told AsianInvestor.
Maybank Private Wealth, which was opened only 18 months ago, is also planning to open a desk in London and expand its Singapore proposition, the publication quoted Alvin Lee, group head of private wealth for Maybank, as saying.
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The London desk, which will be opened later this year, will mainly serve the investment needs of wealthy Singaporeans and Malaysians, who have a propensity for buying UK property.
Maybank Private Wealth is planning to introduce a discretionary portfolio management service in Singapore in the coming weeks, which will be headed by Ang Mui Koon, who was hired from Standard Chartered in 2014.
The new service will be on top of the advisory services which it currently provides in an open architecture format, Lee revealed.
As part of its regional build-out, Maybank Private Wealth is also investing in technology platforms, according to the AsianInvestor report.
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