SCB Private Banking joins with SCBS to offer ultra-high-net-worth clients unlimited impressive experiences

Stocks and Financial Services Press Releases Tuesday January 29, 2019 17:37
Bangkok--29 Jan--Siam Commercial Bank

To proceed with its strong determination to offer ultra-high-net-worth clients an unlimited impressive experience, SCB Private Banking has lately teamed up with SCB Securities Co., Ltd. (SCBS) to provide them with a comprehensive investment platform and well-prepared and screened investment analysis reports catering to individual needs, whether Thai stocks, foreign stocks, debentures, structured notes, or mutual funds, to allow them to make proper and timely investment decisions.

SCB First Executive Vice President, Private Banking Division, Ms. Lalitphat Toranavikrai, said the overall segment of Thailand's ultra-high-net-worth clients with assets worth 50 million baht or more, has grown continuously. At present, there are around 123,000 clients in the segment, with total assets under management (AUM) worth around 20 trillion baht, up 13.3% from 2017. The current number of SCB Private Banking clients numbers more than 10,000, with assets under management totaling 750 billion baht.

SCB believes the ultra-high-net-worth client segment has potential and much room for growth. The bank is well-prepared for competition to tap the clients given the capability of its Estate Planning & Family Office, which is a team of financial advisors engaged in nurturing and maintaining the wealth and assets of its clients from generation to generation and catering to their real needs, and the competence of the Chief Investment Officer Team serving as the key brain for the investment strategy management of SCB Wealth clients. Last year the bank developed a wealth platform using the strength of its team of advisors and state-of-the-art technology to serve the needs of ultra-high-net-worth clients. It also formed an alliance with Swiss private bank Julius Baer to nurture the boundless wealth of clients keen on off-shore investment.

To fulfill clients' needs for on-shore investment, Ms. Lalitphat noted that SCB Private Banking has of late forged cooperation with SCBS to prepare stock investment analysis reports tailored to the individual needs of its clients. The specially-selected open architecture investment platform is also offered as an investment option for the enhanced wealth of clients and to serve their needs professionally and without limit, in line with the service philosophy of "It's a Matter of Trust."

SCBS Chief Executive Officer Mr. Kampol Jantavibool said parent company SCB has moved to a new platform to serve the greater needs of clients as part of its transformation to deal with digital disruption. One of its key strategies is to use technologies to enhance the efficiency of the wealth management for clients. With the advanced technology, clients will receive services and data catering to their needs and in a timely manner and so have an opportunity to receive more attractive returns.

SCBS, which serves as one of key channels for supporting the wealth enhancement strategy, collaborated with SCB last year to develop and offer service products and investment knowledge via the SCB Investment Center and bank branches nationwide to ensure clients have access to every facet of investment service.

To serve the investment needs of clients in every targeted segment, particularly the wealth segment which has much room for growth, Mr. Kampol noted that SCBS has formed a Wealth Research Team to provide investment advice and in-depth investment analysis of local and overseas financial products in the form of analysis reports for each investor based on their investment portfolios. The company believes that wealth research quality will be key to helping clients fulfill their financial transaction and investment goals.

SCBS Managing Director, Investment Strategy Department, Research Group, Mr. Sukit Udomsirikul said that the company forecast 2019 overall investment return outperforming 2018 returns. Good quality assets at suitable prices will provide outstanding returns. Should the global economy grow at too slow a pace, the main central banks, including the US Federal Reserve (FED), will ease stringent financial policies or even go back to adopting easing policies, which will benefit financial markets. However, financial markets will suffer if the FED continues raising the policy interest rate and the US-China trade war intensifies following the current truce.

Mr. Sukit said that SCBS believed foreign capital will gradually move from the US stock market to emerging markets. Some capital will be relocated from new-economy securities, such as technology stocks, to old-economy securities, such as consumption and infrastructure stocks. Still, no economic recession factor is seen in the major economies for this year.

Regarding investment strategy, Mr. Sukit suggested that investors buy stocks on the Thai bourse, particularly in the local consumption and investment segments. He forecast the Chinese stock market recovering in the short term. Investment in the US stock market should be made only when valuation is appropriate. He also suggested investors distribute investment in alternative assets such as REIT, IFF, and gold to avoid capital volatility.

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