Best for UHNW in Malaysia 2023
Being the only foreign private bank operating onshore in Malaysia certainly gives UOB an edge. But even without that credential, the firm’s wealth platform in the country is remarkable. It’s Asiamoney’s pick for best international private bank and best for ultra-high net-worth clients in Malaysia in 2023.
Leveraging on the strength of 45 branches, UOB Malaysia offers an extensive range of commercial and personal financial services through its branches, subsidiaries and associate companies. UOB Private Bank clients have access to commercial lending, investment banking, treasury, trade services, cash management, home loans, credit cards, general insurance and life assurance and, of course, world class wealth management capabilities.
UOB Private Bank’s Malaysia country head is Stevenson Yip. Under his leadership – and in line with the broader ethos of UOB in Singapore – the wealth team has emphasized building long-lasting relationships and staying with clients, both in the good times and when the going gets so tough it imperils the economic, political and social orders.
The pandemic was one such moment. Yip joined UOB from CIMB Private Banking in September 2021, at the height of Malaysia’s Covid-19 crisis. But Yip encountered a team that was up to the challenge as it made meeting client demands a priority.