Best international private bank in Singapore 2021
Leading with conversations rather than with product offerings is Standard Chartered private banking’s motto for approaching its clients. It’s a motto that has paid off for the firm.
Just take its 2020 annual client survey results, where 93% of its clients say they consider Standard Chartered better than or comparable to other private banks. About 96% say they plan to increase their business with the firm.
Perhaps more importantly, the pandemic didn’t hamper the way Standard Chartered deals with its clients. Its net easy score – or the ease of doing business indicator – improved from 33% in 2019 to 48% last year.
That satisfaction is showing in the numbers, as Standard Chartered continues making inroads with high net worth clients (those with assets under management of more than $5 million) and ultra high net worth clients, or those with AUM of more than $30 million.
AUM from billionaire clients, for instance, jumped 34% year on year in 2020.
Most of the wealth that Standard Chartered oversees sits offshore.