KUALA LUMPUR: CIMB Private Banking took the No. 1 spot when it was awarded “Best Private Banking Services Overall” in Malaysia in the Euromoney global private banking and wealth management survey 2021.
In a statement on Monday, CIMB Group said CIMB Private Banking was ranked top, ahead of 10 other Malaysian, regional and global banks operating in the country.
CIMB was also ranked No. 1 in five other categories in Malaysia which were: mega-high net worth clients (US$250mil+); ultra-high net worth clients (more than US$30mil to US$250mil); and investment management.
It also took top spots in technology - data management and security in private banking and wealth management; and technology - innovative or emerging technology adoption.
Chief executive officer of CIMB Investment Bank Bhd, Jefferi Hashim, said, “We are honoured by the recognition as the industry’s best by our peers.
“This achievement is a testament to the team’s strong focus and commitment to providing the best service, and the support of our clients despite the challenging market conditions.
“In line with the wealth management segment focus in our Forward23+ strategy, CIMB Private Banking remains committed to forging deeper client relationships by aligning client interests supported by strong advisory capabilities as well as innovative solutions.”
CIMB Private Banking is the wealth management arm of CIMB Group catering to its high net worth segment with regional presence in Malaysia, Singapore and Indonesia.
The banking group said with CIMB Group’s integrated banking solutions and footprint across Asean, clients are able to benefit from a seamless and holistic approach for both their personal and business needs.
It also pointed out the Euromoney Global Private Banking and Wealth Management Survey provides a qualitative review of the best services in private banking, by region and by area of service.
The survey was completed by private banks and wealth managers.