SCB WEALTH has announced a strategic partnership with asset management firm BlackRock, to enhance its wealth management offerings in Thailand. The collaboration aims to direct SCB WEALTH’s clients towards international investment opportunities, with the goal of managing THB180bn ($5.35bn) in global investment assets by 2026.
The alliance between SCB WEALTH and BlackRock will focus on providing clients with comprehensive investment analysis, formulating long-term investment strategies, and developing specialised training programmes for Relationship Managers to align with international standards.
BlackRock oversees approximately $11.6trillion in assets, as of December 2024. The collaboration will enable SCB WEALTH and BlackRock work together to access extensive investment data and conduct joint analytical efforts, to equip clients with superior information for making informed investment decisions.
The partnership also entails collaborative marketing initiatives and investor education sessions nationwide, aiming to enhance the quality of investment advisory services provided by SCB WEALTH. By working with BlackRock as a sub-advised investment manager, SCB WEALTH will offer its clients innovative and tailored investment options, backed by BlackRock’s comprehensive investment analysis and wealth of experience in advisor training.
SCB CEO Kris Chantanotoke said: “SCB WEALTH aims to become Thailand’s top wealth management business by 2026, offering world-class services across the board. A key factor in achieving this goal is partnering with globally renowned experts who share a common vision. This collaboration ensures the best offerings for Thai clients and investors, helping them build a strong financial future with sufficient assets for retirement.
“Regarding this key mission, SCB WEALTH recognises BlackRock, the global leader in asset management, as sharing a similar approach to wealth management and long-term investment planning. Both organisations prioritise customer-centric strategies to meet client needs. This partnership enables SCB WEALTH to access in-depth investment data and design innovative products exclusively for our clients, aligning with the Bank’s strategic wealth management goals.”
In January, Danske Bank integrated BlackRock’s Aladdin Wealth platform into its personal customer investment services.
