Maybank Private Wealth
Against the backdrop of a challenging economy in Malaysia and globally, one private bank continued its storied rise to private banking excellence in the Southeast Asian nation.
Maybank Private Wealth furthered its expansion in 2015 to become the private bank of choice for wealthy Malaysians. After launching its second private wealth centre in Kuching, Sarawak last year, Maybank’s reach in the nation of 67,000 high net worth individuals expanded to include 35 wealth centres across the country. Its diversified asset acquisition engine extends across the entire Southeast Asia region to the likes of even Myanmar. In fact, Maybank is the only bank with an existing presence in all ten ASEAN countries.
These efforts subsequently materialised into rapid asset growth and a fast growing book of clients in Malaysia and across the region. Testament to its commitment to a local clientele, whose Islamic roots dominate more than 60% of the local population, Maybank has dedicated significant resources to developing its Shariah-compliant offerings. Coupled with its investment banking arm’s established track record of leading sukuk bond issuances, Maybank Private Wealth leverages from its strong affiliation with Maybank Islamic Bank to offer its clientele access to a diverse range of Shariah compliant products and services.
Maybank’s private banking offering was launched in late 2013 and has in the short time, grown its assets under management significantly in their domestic market and cemented itself as a premium wealth manager, coupled with an already established brand. Building on strong growth over the past two years, Maybank Private Wealth has emerged from the competition to win 2015’s Asian Private Banker Best Private Bank – Malaysia Domestic Award.