Asiamoney is part of the Delinian Group, Delinian Limited, 8 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2023
Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement
AwardsAsia Private Banking Awards

Best for ESG investing in Thailand 2022

Siam Commercial Bank

Lalitphat Toranavikrai, SCB Julius Baer.jpg
Lalitphat Toranavikrai, SCB Julius Baer

Last year was a tough one for the wealth management unit of Thailand’s oldest commercial bank. Revenues rose a modest 5.7% year on year at Siam Commercial Bank’s private banking division while assets under management were unchanged.

Lalitphat Toranavikrai, CEO of SCB Julius Baer (SCB has a private banking joint venture with Swiss firm Julius Baer), says 2021 was always going to be a year of reorienting the business with a digital revolution for its 12,000 clients.

Below the surface, the SCB private banking team managed to generate some healthy returns. Take the bank’s discretionary portfolio management offering, which seeks to select investment themes and structures in line with individual clients’ ambitions and risk appetites. These included SCB’s Alpha fund, which had an annual return of 36% in 2021. The Stella fund, a quant offering, returned 50%.

SCB’s private asset solutions cater to clients strongly focused on specific higher-return sectors or industries that are difficult to access through the public markets.