Standard Chartered Bank Targets $200 Billion Net New Money Growth Over Next 5 Years, Serves Wealth Management Clients via Personal Banking, Priority Banking, International Banking & Private Banking
3rd December 2024 | Hong Kong
Standard Chartered Bank has set a target of $200 billion in Net New Money (NNM) growth over the next 5 years. Standard Chartered Bank serves wealth management clients via Personal Banking, Priority Banking, International Banking & Private Banking. In 2024 October, Standard Chartered Bank updated the wealth offerings for Global Indian affluent & HNWs (High net worths) in India & Global Indians to manage their international banking & wealth management needs by leveraging Standard Chartered international wealth centres in Singapore, Hong Kong, UAE & UK. Standard Chartered Bank also opened a new International Priority Centre in Mumbai in India. Standard Chartered Bank serves Global Indian affluent segment under Standard Chartered Priority, Priority Private & Global Private Bank. In 2024 June, Standard Chartered Bank created a Variable Capital Company (VCC) fund structure (Standard Chartered Fund) in Singapore to launch fund solutions for HNW (high net worth), accredited & professional investors. In 2024 May, Standard Chartered Bank raised more than $1 billion for Standard Chartered Signature CIO Funds in 4 funds – Conservative, Income, Balanced & Growth. The Standard Chartered Signature CIO Funds were launched in late 2022 with Signature CIO Growth Fund generating +28% return since launch. The funds are available to retail investors in 12 markets including Singapore, Hong Kong, China,Taiwan, Malaysia, Brunei, South Korea in Asia.
“ Standard Chartered Bank Targets $200 Billion Net New Money Growth Over Next 5 Years, Serves Wealth Management Clients via Personal Banking, Priority Banking, International Banking & Private Banking “
Standard Chartered Bank Updates Wealth Offerings for Global Indian Affluent & HNWs in India & Global Indians to Manage International Banking & Wealth Management Needs by Leveraging International Wealth Centres in Singapore, Hong Kong, UAE & UK, Opens New International Priority Centre in Mumbai in India, Serves Global Indian Affluent Segment under Standard Chartered Priority, Priority Private & Global Private Bank
24th October 2024 – Standard Chartered Bank has updated the wealth offerings for Global Indian affluent & HNWs (High net worths) in India & Global Indians to manage their international banking & wealth management needs by leveraging Standard Chartered international wealth centres in Singapore, Hong Kong, UAE & UK. Standard Chartered Bank also opened a new International Priority Centre in Mumbai in India. Standard Chartered Bank serves Global Indian affluent segment under Standard Chartered Priority, Priority Private & Global Private Bank. Announcement (22/10/24): “Standard Chartered (“the Bank”) today announced it has refreshed its Global Indian proposition within its Affluent segment which serves clients under Priority, Priority Private and the Global Private Bank. This is a comprehensive initiative to help affluent and high-net-worth individuals and their families seamlessly manage their international banking and wealth management needs across the globe. Affluent individuals residing in India as well as the Indian diaspora across the globe have an increasingly “global” outlook for their personal, business and wealth requirements as their wealth continues to grow at a rapid pace. To address this growing wealth shift, Standard Chartered is refreshing its proposition to meet the needs by providing an interconnected gateway for these clients by leveraging its international wealth centres in Singapore, Hong Kong, the UAE and the United Kingdom. The Global Indian proposition offers a comprehensive set of global solutions and experiences, including access to signature investment opportunities, seamless international banking capabilities and cross-border wealth and lending solutions. These international services tap on the connectivity and deep-rooted capabilities of the Bank’s four wealth centres as well as in India, providing clients access to both international and domestic markets and capabilities. In addition, Standard Chartered’s newly opened International Priority Centre in Mumbai, India, a first of such centres globally, enables clients to enjoy the convenience of in-person branch services. Besides access to international financial solutions, the proposition offers clients unique lifestyle experiences including exclusive dining offers and travel assistance especially when traveling to India. At the heart of the proposition is a team of highly experienced relationship managers who are based close to where the clients are. The team serves as the primary point of contact for clients and are supported by a global network of wealth specialists who help clients to seamlessly manage their wealth across borders.” In 2024 June, Standard Chartered Bank created a Variable Capital Company (VCC) fund structure (Standard Chartered Fund) in Singapore to launch fund solutions for HNW (high net worth), accredited & professional investors. In 2024 May, Standard Chartered Bank raised more than $1 billion for Standard Chartered Signature CIO Funds in 4 funds – Conservative, Income, Balanced & Growth. The Standard Chartered Signature CIO Funds were launched in late 2022 with Signature CIO Growth Fund generating +28% return since launch. The funds are available to retail investors in 12 markets including Singapore, Hong Kong, China,Taiwan, Malaysia, Brunei, South Korea in Asia.
Vinay Gandhi, Global Head, Global South Asian Community and Regional Head, Europe, Africa & Middle East, Private Banking: “For many decades, Standard Chartered has been serving the financial needs of domestic and non-resident Indian clients. In particular, wealthy Indians have a strong entrepreneurial spirit and are very sophisticated, with complex investment needs. It is important that as a bank who has served this segment for over 160 years, we continue to anticipate and meet their financial needs. Our Global Indian proposition reflects our commitment to be the leading international wealth manager for affluent clients.”
Rajesh Kannan, Managing Director, Head of Global Indian and Head of Wealth & Retail Banking UAE, Jersey (UK), Standard Chartered Bank: “The Global Indian proposition reinforces Standard Chartered Bank’s position as a leading international wealth manager for our affluent clients. The Indian diaspora now has a more “global” investment outlook. We are focused on managing this change by providing an international gateway for these clients by leveraging our international wealth centres combined with our deep-rooted knowledge and understanding of India to support their global wealth ambitions beyond borders.”
Standard Chartered Bank Creates Variable Capital Company (VCC) Fund Structure Standard Chartered Fund in Singapore to Launch Fund Solutions for HNW, Accredited & Professional Investors, VCC is a Holding Vehicle Allowing for Quick, Lower-Cost & More Efficient Fund Launch & Management via Sub-Funds, Standard Chartered Bank Will Appoint Global Fund Managers as Sub-Investment Managers & to Launch Innovative & Relevant Fund Solutions for Global Affluent Clients
12th June 2024 – Standard Chartered Bank has created a Variable Capital Company (VCC) fund structure (Standard Chartered Fund) in Singapore to launch fund solutions for HNW (high net worth), accredited & professional investors. The Variable Capital Company (VCC) is a holding vehicle, allowing for quick, lower-cost & more efficient fund launch & management via sub-funds. With the VCC fund structure, Standard Chartered Bank will appoint global fund managers as sub-investment managers, and to launch innovative & relevant fund solutions for global affluent clients. The Singapore Variable Capital Company (VCC) is a new corporate structure for investment funds in Singapore (14th January 2020). It can be formed as a single standalone fund, or as an umbrella fund with 2 or more sub-funds, each holding different assets. In 2022, there are 969 Variable Capital Companies (VCCs) (1,995 sub-funds) managed by 544 regulated FMCs. VCC Fund Strategies – PE & VC 40%, EAM & MFO 21%, Hedge Fund 19%, Traditional 16%, Others 4%. In 2023 January, Singapore central bank Monetary Authority of Singapore (MAS) extended the Variable Capital Companies Grant Scheme (VCCGS) for 2 years till 2025 (15/1/25), with the grant to co-fund 30% & maximum of S$30,000 of qualifying expenses to service providers (legal, tax, admin, compliance) to incorporate or register VCC in Singapore. In 2024 May, Standard Chartered Bank raised more than $1 billion for Standard Chartered Signature CIO Funds in 4 funds – Conservative, Income, Balanced & Growth. The Standard Chartered Signature CIO Funds were launched in late 2022 with Signature CIO Growth Fund generating +28% return since launch. The funds are available to retail investors in 12 markets including Singapore, Hong Kong, China,Taiwan, Malaysia, Brunei, South Korea in Asia.
Patrick Lee, Chief Executive for Singapore & ASEAN, & Chair Of the SC Fund: “Through SC Fund, we will be able to issue and manage innovative and relevant fund solutions for our global affluent clients in key markets across Asia, Africa and the Middle East, right here from Singapore.”
The Singapore Variable Capital Company (VCC) is a new corporate structure for investment funds in Singapore (14th January 2020). It can be formed as a single standalone fund, or as an umbrella fund with 2 or more sub-funds, each holding different assets. In 2022, there are 969 Variable Capital Companies (VCCs) (1,995 sub-funds) managed by 544 regulated FMCs. VCC Fund Strategies – PE & VC 40%, EAM & MFO 21%, Hedge Fund 19%, Traditional 16%, Others 4%. In 2023 January, Singapore central bank Monetary Authority of Singapore (MAS) extended the Variable Capital Companies Grant Scheme (VCCGS) for 2 years till 2025 (15/1/25), with the grant to co-fund 30% & maximum of S$30,000 of qualifying expenses to service providers (legal, tax, admin, compliance) to incorporate or register VCC in Singapore.
Standard Chartered Bank Raised $1 Billion for Signature CIO Funds in 4 Funds Conservative, Income, Balanced & Growth, Launched in Late 2022 with Signature CIO Growth Fund Generating +28% Return, Available to Retail Investors 12 Markets Including Singapore, Hong Kong, China,Taiwan, Malaysia, Brunei, South Korea in Asia, $2.2 Trillion Amundi Asset Management is the Investment Manager for the Signature CIO Funds
15th May 2024 – Standard Chartered Bank has raised more than $1 billion for Standard Chartered Signature CIO Funds in 4 funds – Conservative, Income, Balanced & Growth. The Standard Chartered Signature CIO Funds were launched in late 2022 with Signature CIO Growth Fund generating +28% return since launch. The funds are available to retail investors in 12 markets including Singapore, Hong Kong, China,Taiwan, Malaysia, Brunei, South Korea in Asia. Amundi Asset Management with $2.2 trillion AUM (Assets under Management) is the investment manager for the Signature CIO Funds. Signature CIO Funds – The Signature CIO Funds are a range of four funds designed to provide investors access to Standard Chartered’s CIO views via a globally diversified multi-asset fund of funds/ETFs portfolio. Clients investing in these funds are exposed to a diversified portfolio that invests in Global Equities, Global Bonds, Commodities, Liquid Alternatives, Cash.
Signature CIO Funds – The Signature CIO Funds are a range of four funds designed to provide investors access to Standard Chartered’s CIO views via a globally diversified multi-asset fund of funds/ETFs portfolio. Clients investing in these funds are exposed to a diversified portfolio that invests in Global Equities, Global Bonds, Commodities, Liquid Alternatives, Cash.
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