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Malaysian Banking Group Expands Wealth Management Presence
Tom Burroughes
20 November 2015
Malaysia-headquartered , the country's largest bank by market capitalisation, has expanded its wealth management business by opening a new private wealth centre in Kuching, Borneo, media reports said. The Kuching private wealth centre is in the existing Maybank Crown Towers Premier Centre. The new centre brings the total number of Maybank private wealth hubs to five – the others are in Kuala Lumpur, Singapore, Hong Kong and London. Maybank's head of regional private wealth, Alvin Lee, was quoted by the Borneo Post as saying that the launch in Kuching was in line with the growing demands from clients for bespoke financial services that are tailored to their investment needs, income levels and risk profiles. “Our Kuching private wealth centre is the first such facility in East Malaysia, and it complements our existing network of six premier wealth centres in Sabah and Sarawak,” he said, adding that wealth management is an important driver of growth for Maybank in future.