Strategic wealth management alliance in Thailand

Pictet will provide global wealth and investment management expertise and knowhow to help Bangkok Bank enhance its wealth management solutions in Thailand. This will benefit Bangkok Bank’s clients by offering them broader international investment capabilities across asset classes, as well as wealth management services and solutions focused on helping them protect, grow and preserve their wealth for future generations.

Bangkok Bank and Pictet have already collaborated on several key initiatives this year. In September, Bangkok Capital Asset Management Company Limited (BCAP), a subsidiary of Bangkok Bank, launched two funds which are exclusive for Bangkok Bank clients, the BCAP Global Multi Asset Fund and BCAP Global Multi Asset Plus Fund, with Pictet as the investment advisor. BBL Asset Management Company Limited (BBLAM), another bank subsidiary, earlier this year launched the Bualuang Sustainable Investing Portfolio (B-SIP) fund which invests in sustainability funds managed by Pictet Asset Management. BBLAM this week launched two new B-SIP funds, Bualuang Sustainable Investing Portfolio Super Savings Fund and Bualuang Sustainable Investing Portfolio RMF.

Mr. Claude Haberer, an Equity Partner of Pictet and Chairman of Pictet Wealth Management Asia, will join Bangkok Bank as an advisor to the President of the Bank from January 2022, after his retirement from Pictet.

Mr. Chartsiri Sophonpanich, President of Bangkok Bank, said, “The products and services Bangkok Bank will develop with Pictet Group through this alliance will help us create more value for our wealth clients, complement their existing portfolio management and investment strategies with more sophisticated solutions, and help preserve their wealth for generations to come.

“Our clients will benefit from Pictet Group’s 200 years’ of deep experience in wealth and asset management, its tradition of long-term investment and superior returns, global macroeconomic insights, sophisticated technology platforms and strong values around family wealth planning,” Mr. Sophonpanich added. “We look forward to welcoming Mr. Claude Haberer and the deep wealth investment experience he will bring to Bangkok Bank and building on the common values which Bangkok Bank and Pictet Group share, especially our commitment to working closely with clients to earn their trust and confidence and building long-term relationships.”

Mr. Renaud de Planta, Senior Managing Partner of Pictet, said, “We look forward to this strategic alliance with Bangkok Bank, with whom we not only share the goal of bringing further wealth management expertise to Thailand, but also a strong and enduring corporate culture focused on the long-term. Pictet has been serving private clients in Asia for more than 30 years, it is a priority region for us. We plan to bring to Bangkok Bank and its clients our investment leadership, rooted in our independence as a group, as well as our own experience in succession and transmission of ownership over two centuries, with a focus on continuity, stability and sustainability.”

“We thank Claude for his dedication and his important contribution in building Pictet’s Wealth Management franchise in Asia over the past decade. We wish him all the best in his new role with Bangkok Bank, which will help ensure strong ties for the strategic alliance,” Mr. de Planta added.

Bangkok Bank

Bangkok Bank, established in 1944, is Thailand’s largest bank by total assets and the 6th largest Southeast Asian bank by total assets. A leading diversified regional bank in Southeast Asia, it has a presence in nine ASEAN countries as well as branches in Hong Kong, Japan, Taiwan, the United Kingdom and the United States. Its major international subsidiaries are Bangkok Bank Berhad in Malaysia, Bangkok Bank (China) in China and PermataBank in Indonesia. The bank provides a full range of financial services through six business units: Corporate, Commercial, Business, Consumer, International, and Investment Banking. It has been giving people and businesses the confidence and support them to make the right financial decisions in a changing world since it was founded in 1944.

The Pictet Group

The Pictet Group is a partnership of eight owner-managers, with principles of succession and transmission of ownership that have remained unchanged since foundation in 1805. It offers only wealth management, asset management, alternative investment solutions and related asset services. The Group does not engage in investment banking, nor does it extend commercial loans. With USD 746 billion in assets under management or custody at 30 June 2021, Pictet is today one of the leading Europe-based independent wealth and asset managers for private clients and institutional investors.

Headquartered and founded in Geneva, Switzerland, Pictet employs over 5,000 people. It has 30 offices worldwide, in Amsterdam, Barcelona, Basel, Brussels, Dubai, Frankfurt, Geneva, Hong Kong, Lausanne, London, Luxembourg, Madrid, Milan, Monaco, Montreal, Munich, Nassau, New York, Osaka, Paris, Rome, Shanghai, Singapore, Stuttgart, Taipei, Tel Aviv, Tokyo, Turin, Verona and Zurich.