Standard Chartered is reportedly planning to focus on wealth management in Malaysia as it sees an increasing growth and demand for wealth management products and services in the country.
The bank’s managing director and CEO Malaysia Mahendra Gursahani told news agency Bernama that Malaysia is the second largest wealth management market for Standard Chartered in ASEAN.
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"Our network advantage puts us in a strong position to facilitate trade and investment in Malaysia with our presence in all 10 ASEAN countries," he was quoted as saying by the news agency.
Gursahani said that the company’s Asia, Africa and the Middle East markets are expected to account for 60% of the global growth in HNWI’s personal financial assets in the next three years.
Standard Chartered aims to focus on the growth in wealth management by targeting HNWI’S for the group’s business unit in China.
He added that the bank is planning to invest in technology and standardising platforms across networks to enhance the client experience via easy and convenient banking.
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By GlobalData"Malaysia and Singapore account for about half of total online sales in the ASEAN region," Gursahani added.
