Awards for Distinction 2023 – Best Private Bank – Malaysia

Best Private Bank Malaysia


Maybank Private

Best Private Bank – Malaysia

Lim Eng Ping

Maybank Private Malaysia

We are delighted to be once again recognised as the Best Private Bank in Malaysia for the fifth consecutive year.

It is an honour to receive this award, which is a testament to the dedication and effort of the Maybank Private team. The unwavering focus and continuous drive for excellence, despite the ever-evolving landscape of private banking, saw the team expand its AUM portfolio by 34% between 3Q22 and 3Q23, curating and growing our clients’ assets.

This win also reaffirms our commitment to empowering our clients to achieve their wealth goals, made possible with our clients’ enduring trust and unwavering support in both favourable and challenging environments.

Beyond celebrating our clients’ success, we are driven by Maybank’s M25+ strategic thrust for intensifying customer centricity. This award further bolsters our leadership and position in Malaysia.

What was behind the judges’ decision?

  • The bank has formed a credit structuring solutions team and an investment consultant team and recruited asset class specialists to enhance product offerings, research and investments
  • Despite rising interest rates and a challenging investment climate, the bank achieved moderate growth in its Lombard financing portfolio by guiding clients on optimal currency strategies, and significant growth in income from Universal Life Insurance products. The bank is enhancing its ESG products range while introducing multi-asset global model portfolios
  • Furthermore, the bank introduced a bespoke UHNW investment advisory service and initiated the first phase of implementing the Avaloq system as its core banking solution. New KYC and client onboarding processes were also implemented

What we said

“In 2023, Maybank Private experienced substantial growth in AUM and revenue, with an enhanced focus on the next generations of ultra high net worth and high net worth individuals in Malaysia,” said Audrey Raj, senior consultant and South Asia editor of Asian Private Banker.

“The team has also reached key milestones through organisational changes, more hires and offerings, and client engagement activities. The bank is looking to further build up its Islamic Wealth Management proposition by partnering with Shariah-compliant unit trusts and developing Shariah-compliant structured products on the back of a stringent selection process.

“Congratulations to Maybank Private for clinching the title of Best Private Bank in Malaysia! Team APB celebrates your welldeserved achievement.”

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