01  March 2011  - 12:25
Maybank wins Euromoney Best Private Banking Services Award

Maybank has won Euromoney’s “Best Private Banking Services Overall in Malaysia” for the third consecutive year.

Teh Cheah May (holding the award) celebrating the achievement with High Networth and Affluent Banking staff

Winners were selected based on Euromoney’s Private Banking poll of more than 1,500 private banking professionals worldwide that represented US$7.7 trillion of Assets Under Management(AUM). The survey is regarded as the benchmark survey of the opinions of private banking professionals around the globe.

Maybank Deputy President and Head of Community Financial Services Maybank Lim Hong Tat said, “We thank our private banking clients and stakeholders for recognising our efforts to bring greater value to them in our product offerings and services. This Industry Award is even more rewarding given that we began offering wealth management services in 2007. It reflects our responsiveness to the challenging environment for wealth management in the last three years and our ability to meet our clients' needs during and after the recent financial crisis.”

Teh Cheah May, Executive Vice President and Head of High Networth and Affluent Banking, Community Financial Services, Maybank said that the Award also serves as an affirmation of the Bank’s new wealth management model to meet the Group’s aspiration to become a regional financial services leader by 2015. “The selection criteria are an important benchmark as we embark on our next phase of growth for wealth management, tapping on the Group’s expertise to offer products and services beyond Malaysia,” she said.

Maybank Wealth Management has seen its clientele grow by 11.73% in the financial year ended 30 June 2010 compared to the previous year. Since 2007, its average annual AUM growth was 16.90% to total more than RM40 billion as at end June 2010.

“With our proposed acquisition of Kim Eng, one of the top investment entities in the region, it will also enable us to expand our range of services for our private banking clientele as well as offer wealth management services to new markets where Kim Eng has a presence such as in Thailand and India as well as other markets where both entities are present namely Singapore, Philippines, Indonesia, Vietnam, Hong Kong, London and New York,” added Lim.

“One of the many private banking services offered is the recognition of the differentiated status our clients enjoy in the 14 countries where Maybank has its footprint. In Malaysia, private banking clients enjoy not only a holistic range of financial products designed to meet their personal and business needs as well as exclusive invites to lifestyle events specially organised to complement their personal preferences,” said Ms Teh.