Standard Chartered Bank has opened its first international banking and priority private centre in Singapore.
Priority private is a segment designed for high net worth clients with a minimum of $S1.5m (£826,000, $1.1m, €998,000) assets under management with the bank.
These clients enjoy tailored solutions and wealth privileges; such as an extended range of investment opportunities, preferential pricing, and access to the relationship management team.
This is traditionally only available in the private banking space.
Cross border
The bank also offers international banking services to priority private clients who require global banking and wealth management solutions outside of their current market of residence.
This includes investing in overseas markets, making multi-currency payments or funding the education of their children.
A third of priority private clients are international banking clients.
Significant hub
Dwaipayan Sadhu, head of retail banking of Singapore at Standard Chartered, said: “This is a clear recognition of Singapore’s position as a leading international wealth management centre and a significant hub for doing business in the world.
“International banking is a huge contributor to the bank’s retail business.
“Over 20% of our affluent clients are from around the world, and this branch provides an oasis for them to catch up on their financial needs whenever they are in town.”
