SCB WEALTH, a key business unit of SCB, is dedicated to enhancing the wealth of Thai investors and expanding opportunities for global investments. SCB launched partnership with BlackRock who is the world’s largest asset management company. By partnering with BlackRock, a company that shares the same business philosophy, both organizations emphasize the customer-centric approach, focusing on developing investment products that truly meet clients’ needs. SCB WEALTH views wealth management as a long-term investment, ensuring a strong financial future under the concept of “Your Success. Our Success.”
Under this collaboration, the bank’s wealth clients will gain privilege access to exclusive world-class investment products, in-depth research, and strategic market insights through BlackRock’s extensive global network, said Mr. Kris Chantanotoke, Chief Executive Officer of SCB.
He said the bank spent about a year finalizing the collaboration to ensure the partnership genuinely enhances the wealth of Thais.
As a result, the bank is deeply focusing on three core areas of development under this collaboration: investment products, research and risk management, and human capabilities
“SCB has set an ambitious goal to become No.1 wealth management institution in Thailand by 2026. To achieve this, partnering with a global leader like BlackRock is essential, as it aligns with our strategic objectives in every aspect”, said Mr Kris.
Through this strategic partnership, SCB WEALTH combines its deep understanding of Thai investors' needs with BlackRock’s global investment expertise. This synergy enables the creation of tailored investment strategies and solutions that align with clients’ financial goals and risk profiles.
As part of the partnership, SCB WEALTH and BlackRock have established working team to evaluate and curate exclusive investment products for the bank’s wealth clients, reinforcing the unique value of this collaboration.
Additionally, SCB WEALTH prioritizes the development of its Relationship Managers (RMs) through a specialized training program designed by SCB WEALTH Academy in collaboration with BlackRock. This program focuses on enhancing investment knowledge, providing a deep understanding of investment products, and elevating client service/advisory to international standards. The ultimate goal is to become No.1 in NPS by 2026
"Beyond our existing wealth clients, we aim to expand opportunities for Thai individuals with wealth potential who are interested in investing. In particular, personal financial planning and retirement planning will play a key role in helping them build long-term financial security and well-being," Mr. Kris said.
Leveraging Digital & AI Innovation
Apart of its mission, SCB sees digital/AI technology as a key to expanding its wealth business and meeting customer needs. This includes creating innovative new investment products and enhancing investment services for customers through digital technology. BlackRock will share experiences and global investment insights , ensuring a more tailored and efficient experience for customers.
Andrew Landman, Deputy Head of Asia-Pacific and Head of Asia Pacific Wealth at BlackRock, said SCB’s platform will open greater opportunities for customers to access wealth management services, With its expertise, BlackRock is well-equipped to provide advisory support to SCB WEALTH in developing products that are globally diversified and better meet the need of Thai investors.
Research-Driven Strategies
In addition, Mr Landman underscored the importance of co-research as a key component of this strategic alliance, particularly in light of global economic uncertainty and market volatility driven by rising geopolitical risks.
However, BlackRock remains focused on long-term investments, helping clients achieve reasonable returns while ensuring sustained growth of their portfolios over the long term, he said.
“In today’s world, investors are inundated with vast amounts of information especially from social media. At BlackRock, we focus on extracting credible, high-value insights that truly benefit investors, ensuring long-term portfolio growth.” Mr Landman noted.
Finally, Mr Kris said the collaboration with BlackRock will empower Thai people to access global investment insights, providing opportunities for better returns compared to investing solely in the domestic market. It will help them develop investment planning skills and risk management strategies, ensuring long-term financial prosperity and sufficient assets for a comfortable retirement.