Head, Affluent Segment of RHB Banking Group
“The Malaysian banks are pursuing SMEs as part of an expanded mandate to help grow its affluent base,” said Mr. Calvin Goon, Head of Affluent Division of RHB Banking Group.
Rising above economic challenges, growing the affluent target segment Mr. Calvin Goon, Head of Affluent Division of RHB Banking Group explains how to move the market forward during challenging times.
It is no secret that industry observers of Malaysia’s wealth management landscape believe that the next decade will be increasingly challenging for the high net worth (HNW) individuals who are constantly seeking higher yields while grappling with an uncertain economic outlook. Factors such as the growing complexity in China’s credit space, Brexit and the Euro uncertainty are cause for major concerns as with the issue of central banks shifting gear from accommodative to tightening which pose serious challenges to banks in moving the affluent market forward.
High net worth individuals from Malaysia and around the world are concerned with three main issues, namely inheritance, global economy and tax. In turn, banks are looking to introduce new propositions, products and solutions to address clients’ concerns. Looking to small- and medium-sized enterprise space (SMEs), there are many untapped opportunities for the banks to work on.
“These clients are more sophisticated and will demand customised products and solutions. They prefer more attentive services due to the nature of their business.”
“The Malaysian banks are pursuing SMEs as part of an expanded mandate to help grow its affluent base,” Mr. Calvin Goon, Head of Affluent Division of RHB Banking Group says. “The potential synergy will be beneficial during this challenging period.”
Taking into consideration this group of SMEs as well as the HNW investors, a more specialised and personalised approach is required. In line with this, RHB Bank created the Private Clients and Business Services segment to hold their assets that are in excess of USD1 million and above.
“These clients are more sophisticated and will demand customised products and solutions,” explains Mr. Calvin Goon. “They prefer more attentive services due to the nature of their business.”
Growing the affluent market means working harder for the clients with customised solutions. The engagement between the bank and these clients is vital, as it boils down to the overall client experience and the impression built from these efforts. It inevitably means not losing any of their capital while seeking returns.
With the inflation surge becoming a global phenomenon, Malaysians also find their incomes eroding from the depreciation of the Ringgit over the past few years. The solution to this could very well be linked to foreign currencies. By providing the benefits of diversification and lessening of risks, these measures could verily mitigate the rising economic challenges.
在经济挑战中崛起，跨展高端富裕客户为目标市场。阮晨祐,兴业银行集团（RHB Banking Group）高端市场部门资深副总裁解释如何在充满挑战性的市场中前进
针对中小型企业家及高净值的投资者，他们需要更专属及量身定做的方案。了解这样的需求，兴业银行特别创建了私人客户及商业服务给予拥有资产高达美金 100 万或以上的人士。