Bangkok Bank and Geneva-headquartered global wealth and asset manager Pictet have created a wealth management strategic alliance that builds on previous collaborations.
Pictet will provide expertise and knowhow to help Bangkok Bank improve its wealth management services in Thailand, through offering its clients broader international investment capabilities across asset classes, as well as wealth management services.
Neither firm has disclosed specific commercial details of the alliance.
Claude Haberer, chairman of Pictet Wealth Management Asia, will join Bangkok Bank as an adviser to its president in January 2022, after his retirement from Pictet.
Chartsiri Sophonpanich, president of Bangkok Bank, said: “The products and services Bangkok Bank will develop with Pictet Group through this alliance will help us create more value for our wealth clients, complement their existing portfolio management and investment strategies with more sophisticated solutions, and help preserve their wealth for generations to come.”
A Pictet spokesperson told our sister publication Fund Selector Asia: “With the alliance framework in place, initiatives will be rolled out and announced in due course in the coming months and quarters.”
Previous history
Bangkok Bank, Thailand’s biggest bank by total assets, and Pictet have already worked together on several initiatives this year.
In September, Bangkok Capital Asset Management Company Limited (BCAP), a subsidiary of Bangkok Bank, launched two funds which are exclusive for Bangkok Bank clients, the BCAP Global Multi Asset Fund and BCAP Global Multi Asset Plus Fund, with Pictet as the investment adviser.
BBL Asset Management Company Limited (BBLAM), another bank subsidiary, earlier this year launched the Bualuang Sustainable Investing Portfolio (B-SIP) fund which invests in sustainability funds managed by Pictet Asset Management.
Most recently, this week BBLAM began offering two new B-SIP funds, the Bualuang Sustainable Investing Portfolio Super Savings Fund and the Bualuang Sustainable Investing Portfolio RMF.
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