Press release
Standard Chartered targets USD200 billion in net new money and double-digit wealth growth over next five years
Singapore – Standard Chartered (“the Bank”) hosted its Affluent Investor Seminar today, unveiling its strategy to accelerate business growth. Bolstered by a USD1.5 billion investment commitment announced in October, the Bank has set an ambitious target to acquire USD200 billion in net new money (NNM) over the next five years, alongside double-digit growth in Wealth Solutions income.
Strengthening leadership in affluent business
During the seminar, Standard Chartered showcased its strong growth across a diverse international network covering Asia, Africa and the Middle East. Over the past two years, the Bank’s assets under management (AUM) have outpaced the growth of the top 20 banks on average. In the first nine months of 2024, the Bank achieved a faster NNM acquisition rate than its peers.
Judy Hsu, CEO, Wealth and Retail Banking, said: “We are proud to be recognised as a leading international wealth manager with excellent client service and strong financial performance. As we continue to focus on our competitive strengths, a significant portion of our investment will enhance those capabilities that support our clients’ international banking needs, including a 50 per cent expansion of our relationship manager team by 2028.”
The event outlined plans to enhance the Bank’s wealth capabilities through accelerated product innovation and digital client journeys, improved brand positioning as a leading wealth manager, and branch upgrades tailored to the needs of high-value-clients.
A global network serving affluent clients
As affluent clients increasingly seek geographical diversification, the Bank leverages its extensive network, anchored by global wealth hubs in Hong Kong, Singapore, the UAE and Jersey, to meet their evolving needs.
The Bank is particularly focused on serving Global Chinese and Global Indian clients with its multilingual Relationship Managers (RM) and specialists, who provide culturally attuned, cross-border wealth solutions tailored to them.
To further elevate client experience, the Bank has consistently acted on feedback, earning high scores for RM service, advisory and digital platforms. Since 2019, flagship client centres in key markets like Mainland China, Hong Kong and Singapore have been transformed into state-of-the-art experiential hubs. Additionally, dedicated Global Indian centres in Mumbai and Chennai have been launched, with more to follow.
Raymond Ang, Global Head, Private Bank and Affluent Clients, said:“Our extensive network and four wealth hubs give us a distinct advantage, positioning us to seize the vast and rapidly growing international client opportunities. We value the trust that clients place in us and will invest more to drive our offerings and client experience to the next level.”
Meeting evolving needs with innovative solutions
Standard Chartered’s Wealth Solutions income is well diversified across investment funds, capital market products – including fixed income, cash equities and structured products – as well as bancassurance. The Bank aims to achieve double-digit wealth income growth through continued product innovation and platform enhancements.
Through its proprietary advisory platform “myWealth Advisor”, the Bank delivers unbiased insights from its Chief Investment Office (CIO). In 2025, it plans to integrate advanced capabilities like structured products and risk analytics, further strengthening its advisory services. It will also deepen partnerships to help clients build resilient and opportunistic portfolios through its open- architecture platform.
The Signature CIO Funds, launched in 2022 and built on CIO insights, are a series of foundational portfolios available to clients in 12 markets. These funds have already contributed around USD2 billion to the Bank’s Wealth AUM. Furthermore, the Bank’s first Variable Capital Company, established in Singapore in 2024, offers exclusive and hard-to-access sub-funds. The first-of-its-kind sub-fund, launched in June, has generated USD500 million.
Samir Subberwal, Global Head, Wealth Solutions, Deposits and Mortgages, and Chief Client Officer, said: “Our diversified suite of wealth products and disciplined wealth advisory approach empower us to meet our clients’ evolving needs. We remain committed to delivering innovative solutions to help our clients manage, protect, and grow their wealth – today and for the future.”
With a clear vision and focused strategy, Standard Chartered is redefining wealth management for affluent clients globally, leveraging its expertise, innovation and personalised service to drive sustainable growth.
Event replay
To view the webcast and presentation of Standard Chartered’s Affluent Investor Seminar, please log on to https://www.sc.com/en/investors/events-and-presentations.
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For further information please contact:
Valerie Tay
Wealth and Retail Banking Communications
Cruz Teng
Wealth and Retail Banking Communications