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Standard Chartered To Expand Priority Banking

As part of its global roll out in key markets including China, Hong Kong, Singapore, India, Taiwan, Korea and Malaysia

Standard Chartered UAE has said that it would double the number of its priority banking relationship managers by the end of 2010 – reported AME Info. It is part of the bank’s strategy to focus on the needs of this fast-growing customer segment in key markets including China, Hong Kong, Singapore, India, Taiwan, Korea and Malaysia.

Some features include: Priority status for the whole family: customers’ spouses and children enjoy the same privileges as a Priority Banking customer, including access to the Bank’s more than 200 Priority Banking centres; Cross-border facilities; A dedicated relationship management team; Qualified personnel; product experts in investments, foreign exchange, insurance and lending.

Mee Har Foo, global head, premium banking, Standard Chartered Bank, said: “Priority Banking segment is a sweet spot in Asia as the financial needs of this segment have largely been underserved. The initial response to our new offering has been very encouraging, doubling new customers compared to the first half of the year in some key markets.”

“Standard Chartered is in a position of strength and will continue to invest strongly in people, systems, products and in the hiring of additional 850 relationship managers across our markets to better serve the needs of our customers. There is no better time to introduce our refreshed Priority Banking offering and meet all our customers’ needs,” he added.

Deanna Othman, GM, premium banking, Standard Chartered UAE, said: “Standard Chartered is continuing to expand its business in the UAE by investing heavily for future growth. Priority Banking is a key segment that is growing rapidly, exceeding the industry average and by adding 50 to our existing team, we feel we will be in a position to appropriately serve our customers’ needs. Our new proposition is the best in the industry – it offers products and services that are customised to meet specific needs, and presents a total banking relationship programme,” reported the website.