Best Private Bank Southeast Asia
Standard Chartered Private Bank
Best Private Bank – Southeast Asia
Vinay Gandhi
Global head, South Asian community,
regional head of Europe, Middle East & Africa
Standard Chartered Private Bank
Standard Chartered Private Bank has the advantage as a universal bank to offer a broad suite of solutions. Leveraging the bank’s network and Singapore’s position as a financial hub, our investment into technology, products and people complemented our strategy, and I am pleased our clients benefitted from this. We are committed to taking the business to greater heights and growing together with our clients.
What was behind the judges’ decision?
- Significant AUM and revenue growth driven mainly by strong net new money from senior hires focused on key markets and solutions to drive growth in UHNW propositions in Singapore, Vietnam, Malaysia and Thailand. Additionally, Standard Chartered Private Bank’s open architecture platform has played a crucial role in attracting more UHNW clients to the bank
- The bank has also made significant progress via its corporate and investment banking in Southeast Asia, particularly in raising awareness among local CEOs to help with their financing needs. It has built a solutions partner team to facilitate access to corporate segments and offer bespoke solutions within the private bank’s network
- Furthermore, the bank launched the Global Wealth Planning and Family Advisory team to deepen penetration in wealth and succession planning, family office, family governance and philanthropy. It enhanced its product shelf with more ESG solutions and alternatives investments while simplifying onboarding procedures to improve client experience and trade settlement timeframes
What we said
“Standard Chartered Private Bank has experienced a substantial increase in assets in its core Southeast Asian markets, indicating the attractiveness of its services to wealthy individuals in this region”, said Audrey Raj, senior consultant and South Asia editor of Asian Private Banker.
“Despite facing mixed opportunities and challenges in 2023, the private bank strategically positioned its business to capitalise on opportunities, resulting in strong recurring revenues, a significant increase in new talent and enhanced market coverage.
“With a presence in 10 ASEAN markets, Standard Chartered has initiated a pivot towards serving UHNWIs, targeting billionaires and family offices by leveraging its one-bank capability. All of this was reflected in Standard Chartered Private Bank winning the Best Private Bank – Southeast Asia award. APB’s judging panel was impressed by the bank’s progress in the region and congratulates everyone on this recognition.”
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