Bangkok--3 May--KASIKORNBANK
KBank joins hands with Lombard Odier (Singapore) Ltd., a fully-owned subsidiary of Lombard Odier Group, to announce success in selling THB 30 billion worth of three funds in three years, gearing up to offer new funds covering high-potential markets and upscale our Family Wealth Planning Services for over 30,800 HNWIs in Thailand.
Mr. Jirawat Supornpaibul, Head of KBank Private Banking Business Group, firmly announced that KBank is determined to deliver excellent and the most comprehensive private banking services in Thailand. Since 2015, KBank has formed a partnership with the Singapore unit of Lombard Odier, a Swiss private bank with 222 years of experience in wealth management for global High Net worth Individual (HNWI) clients, to upscale our private banking services and deliver personal financial solutions to address every need of HNWIs in Thailand.
Our portfolio management service is based on the risk-based approach, focusing on investment risk management while offering returns that meet customers' goals throughout their investment terms. The success has been reflected in strong sales of three funds that KBank has jointly developed with Lombard Odier, namely, K-SGM, K-GREAT and K-APB, reaching 1 billion USD or over 30 billion THB within only three years of our partnership. The positive feedback shows that our products have met our clients' needs.
Mr. Jirawat added that KBank and Lombard Odier are gratified with our success and gearing up to develop more services including products to invest in potential markets, equipped with smart investment mechanisms to cater to specific client needs. In particular, KBank Private Banking Business Group, a pioneer in Family Wealth Planning Services in Thailand, has offered the most comprehensive wealth management services in the past three years by applying Lombard Odier's 222-year experience and valuable knowledge to the context of the local needs. Our effort has not gone unnoticed. This year, KBank wins a world-class award from Euromoney Private Banking Survey 2018 in the category of Best Bank for Succession Planning Advice and Trusts, Thailand. The award emphasizes the recognition of excellence that KBank has earned from our peers in the same industry.
To support our vision to provide top-notch services to private banking clients, our partner Lombard Odier has developed a training course specifically for KBank private bankers and support teams. The training contents cover investment management and guidelines to provide the world-class services, with speakers sharing their insights and investment expertise in the global market. Through knowledge transfer between financial advisory teams of the two parties, investment strategies, advice and guidelines suitable for each particular have been offered to clients.
It is expected that in 2018, the number of HNWIs or clients with asset under management (AUM) of over THB 50 million in Thailand will reach around 30,800. KBank is now serving 10,500 HNWI customers with total AUM of around THB 750 billion, equal to a 34-percent market share. KBank expects our investment products will expand by THB 20 billion.