Thailand's best private bank 2019: Phatra Securities
Private banking is one of the sweet spots in Thailand’s banking industry. The combined wealth of the nation’s richest people is expected to top $400 billion in 2020, yet this pool of high net-worth individuals still remains relatively untapped.
Several big foreign names have come knocking on the door. Swiss private bank Julius Baer formed a joint venture with Siam Commercial Bank in 2018, while Lombard Odier has a partnership with Kasikornbank.
Then there is Credit Suisse, which has raised the bar with its outstanding onshore and offshore private banking services.
That has done little to rein in industry leader Phatra Securities, part of the Kiatnakin Phatra Financial Group. A full-service investment bank, Phatra ¬– under chief executive Aphinant Klewpatinond – continues to go from strength to strength.
During the last 12 months, despite not-so-favourable market conditions, Phatra Wealth Management achieved new milestones on several counts. Assets under management hit a high of Bt525 billion ($17 billion), an 11% increase from the previous year. For 2018, Phatra notched up total revenue of Bt1.1 billion, a rise of 19.1%.
To help its clients navigate increasingly volatile markets, while with a vast selection of products, Phatra Wealth Management has expanded its advisory scope to cover global markets across all asset classes.
The firm benefits from full access to the resources of long-time research partner, Bank of America Merrill Lynch. Moreover, with multiple global product partners, ranging from fund houses to investment banks willing to provide market and investment views, Phatra prides itself on being able to form its own views and come up with high conviction calls more efficiently.