CIMB Bank Berhad has launched its Private Wealth solutions targeted at the affluent clients across ASEAN offering bespoke advisory, curated wealth solutions, exclusive experiences that are outcome-focused to help clients achieve their growth ambitions, wealth preservation and legacy planning.
The banking group said the Private Wealth product is well positioned to support diverse clientele across ASEAN by delivering higher-value solutions through investment, lending and protection products as well as wealth advisory services. This includes affluent individuals seeking a specialist adviser for their wealth needs, as well as business clients looking to optimise their personal investments and cross-border activities. These clients will receive regional recognition consistent with Private Wealth privileges and will benefit from the Group’s comprehensive ecosystem with robust commercial and wholesale banking solutions across ASEAN.
Haniz Nazlan, Chief Executive Officer, Group Consumer Banking, CIMB Group, said, “We are seeing a great rewiring of wealth, especially in the ASEAN region. Multiple generations are actively involved in the rapid evolution of wealth creation, protection and intergenerational transfer, all happening at the same time. Clients are seeking trusted partners to navigate the complexity of wealth management to grow, preserve and transition their wealth legacies.
ASEAN today has grown into a USD4 trillion (approximately RM16.28 trillion) economy, and over the long term, has delivered economic growth of around 4% annually, well above many developed markets – while rising incomes, rapid urbanisation and improvements in living standards have expanded the pool of affluent households. With this, the affluent population in ASEAN is expected to grow 5% to 6% annually, while the middle class is expected to account for around 65–70% of the region’s population by 2030. As a result, the region is undergoing one of the largest intergenerational wealth transfers in history, as wealth increasingly moves across multiple generations with differing priorities, risk appetites and financial goals.
