Krungsri Bank has partnered with global asset manager Invesco, marking the latest in a string of Thai-global tie-ups aimed at capturing growing private wealth.

The partnership will aim to enhance Krungsri’s investment advisory and wealth management services by combining its local expertise in the Thai market with Invesco’s global investment experience, according to a recent announcement.

Under the agreement, the firms are preferred partners and will work together to enhance Krungsri’s advisory services and align on allocation strategies for product launches in the Thai market. Krungsri also aims to leverage Invesco’s expertise to build a multi-asset discretionary portfolio management platform.

“Krungsri firmly believes that our partnership with Invesco will be a key catalyst in shaping the future of our investment advisory and wealth management businesses,” commented Kenichi Yamato, president and chief executive officer, Krungsri.

Krungsri Bank has an AUM of 1 trillion baht (US$31 billion), according to the statement on Tuesday. It is Thailand’s fifth-largest bank by AUM, according to APB Insights’ latest data. AUM data for Asia markets in 2025 will be released later this year.

The strategic partnership between the Thai bank, officially known as Bank of Ayudhya Public Company Limited, and the US$2.2 trillion asset manager marks the latest tie-up between Thai banks and global heavyweights hoping to offer Thai clients offshore solutions amid a struggling domestic market. 

Last November, J.P. Morgan Asset Management expanded its partnership with Kasikornbank, granting the Thai bank’s wealth management brand, K Wealth, greater access to JPMAM’s investment solutions.

That followed Kiatnakin Phatra Financial Group’s partnership with Goldman Sachs Asset Management in June 2025, and Siam Commercial Bank’s collaboration with BlackRock to solidify its wealth business.

A confluence of factors seems to be driving such strategic collaborations, according to Thai banks and asset managers that spoke to Asian Private Banker last month, such as a growing wealth segment, an intergenerational wealth transfer driven by its rapidly ageing population, the country’s falling interest rates, and a declining stock market, which registered losses of 10% in 2025. The ability to offer more bespoke wealth solutions to wealthy Thai clients also appears to keep Thai banks ahead of the competition.