Awards for Distinction 2020 – Best Private Bank – Malaysia Domestic

Best Private Bank Malaysia Domestic



Best Private Bank – Malaysia Domestic

Carolyn Leng

head of Maybank Private Malaysia

“We are truly honoured to be named Malaysia’s Best Private Bank by Asian Private Banker for the fourth time and believe this win is a strong testament to Maybank’s position as a trusted wealth partner for its clients.

Despite the challenges faced last year, Maybank Private has been relentless in terms of delivering innovative products and investment opportunities to help clients achieve their wealth aspirations.

I am very proud of what the Maybank Private team has achieved, from the frontliners to the support team, who have worked tirelessly hand in hand during this COVID-19 pandemic and adapted to new forms of technology to continuously engage with clients through thick and thin.

This year promises to be another exciting one and I really look forward to introducing more innovative solutions to clients.”

Winners rationale

In a year overshadowed by a pandemic, Maybank Private has demonstrated its business resilience and sustainability despite the challenges faced. In 2020, Maybank Private broadened its offerings and saw its number of non-individual client base grow about 20% YoY, and achieved a net increase of 14% in AUM.

Maybank Private recognises that it is imperative to adapt to the new restrictions and fulfil needs that arise out of the pandemic. To this end, it has put in place key enhancements to the business. Last year, Maybank Private upscaled its credit solutions and investment teams to provide better and improved support to its client advisors. In the last 12 months, Maybank Private saw its overall client base expand by 9.2% by drawing on the strength of the group’s brand, size, and stability.

Maybank Private’s has made its ambition clear to enhance its current platform by providing a holistic portfolio-based advisory service that focuses on succession planning, investments, and credit solutions. In addition, it is intent on enriching its customer experience and fully integrating clients into the Maybank Private family.

Maybank is Asian Private Banker’s Best Private Bank – Malaysia Domestic for 2020.

The healthy expansion in client base was backed by Maybank Private’s digital capabilities from front to back: the bank’s online platform provided clients with access to equity brokerage services, transactions of over 100 unit trust funds and precious metals. The Maybank Wealth App allowed clients to keep in touch with their RMs, even in the absence of in-person meetings, and the bank strengthened client engagement via Zoom, Whatsapp and email. Maybank Private streamlined the onboarding and KYC processes in 2020 to ensure efficiency and compliance and by 1Q21, it should have fully implemented its API-enabled core-banking system.

Despite the need to tackle challenges brought on by COVID-19, Maybank Private completed multiple service enhancements throughout the year. The bank established its credit structuring and solutions team, as well as its investment consultant team at an opportune time, gaining capacity for providing clients with bespoke credit solutions and portfolio management services. Catering to strong liquidity demands from clients, the bank allowed clients to pledge unencumbered property for financing reinvestments and made available single asset and substantial shareholder financing in 4Q20.

The bank’s private trust, estate planning and asset consolidation solutions team proved a key differentiator in a year where a pandemic drove home the need to plan ahead: it won clients’ wallet share from other FIs, and increased the stickiness of existing client assets.

Established only 7 years ago, the private banking arm of the Maybank Group is endowed with a growth mindset and an innate digital disposition. These qualities, riding on the back of the Group’s well-developed network in Malaysia, have put Maybank Private in a sweet spot. Sailing through the turbulence of 2020 with flying colours has proven that it has what it takes to be a trustworthy partner of Asian HNWIs, come rain or shine.

Maybank is Asian Private Banker’s Best Private Bank – Malaysia Domestic for 2020.

Contact Us
All awards related enquiries to
[email protected]
+852 2529 4277