A number of international firms are tapping into the Thailand and wider Southeast Asian wealth management market by forging links with local players.
BNY Mellon Investment Management and Maybank Securities (Thailand) have partnered to provide model portfolio services – another case of a Western firm teaming up with a local player to tap the Thailand market.
Maybank Securities (Thailand) will launch its first range of portfolios powered by BNY Mellon IM, which are tailored to the risk profiles and volatility targets of Maybank’s clients, BNY Mellon IM said in a statement
The US firm will offer Maybank Securities (Thailand) five portfolios of different risk levels and another five with different volatility targets.
“Since launching the Outsourced Chief Investment Officer (OCIO) business in Asia, we have been collaborating with financial institution clients in the region to help them further develop their businesses. We are aspired to be the one-stop solutions provider by offering comprehensive portfolio management and investment advisory services,” Doni Shamsuddin, chief executive, Asia-Pacific at BNY Mellon Investment Management, said.
A number of international firms are tapping into the Thailand and wider Southeast Asian wealth management market by forging links with local players. Firms such as Julius Baer and Bordier & Cie, the Swiss banks, are among the examples. Julius Baer has built a joint venture with Thailand’s Siam Commercial Bank. In September 2019 DBS Bank announced a partnership between DBS Private Bank and DBS Vickers Securities (Thailand), aiming to double wealth assets under management in Thailand from S$4 billion to S$8 billion by 2023. Other players making inroads include Credit Suisse, Schroders and HSBC.