SCB WEALTH has partnered with BlackRock, a global leader in asset management, to solidify its position as the top wealth management business in Thailand. This partnership will guide clients towards international investments, offering high-quality, innovative opportunities to boost returns in a fast-changing economic landscape. The partnership will offer in-depth investment analysis and insights, work together to identify suitable investment strategies aiming for long-term returns, and develop training programs for Relationship Managers’ development to meet international standards. Providing consultancy and experience sharing to enhance the efficiency of investment advisory services. With all collaboration under partnership will support SCB WEALTH to become the top choice for clients, with a target of THB 180 billion in global investment assets by 2026.
Mr. Kris Chantanotoke, SCB Chief Executive Officer stated, “SCB WEALTH is one of the Bank’s core business functions. 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 recognizes BlackRock, the global leader in asset management, as sharing a similar approach to wealth management and long-term investment planning. Both organizations prioritize 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. This collaboration between SCB WEALTH and BlackRock marks a significant milestone in Thailand’s wealth management industry, guiding Thai investors towards global investment opportunities.”
BlackRock is the world’s top asset management firm, with approximately US$11.6 trillion in assets under management (as of December 2024), offering a diverse range of investments across global markets. The BlackRock Investment Institute provides macro insights on economics and portfolio construction to help clients navigate financial markets. This collaboration marks a new milestone, bringing together a leading player in Thailand’s wealth management industry and BlackRock’s global investment and risk management capabilities, to drive the wealth management business in Thailand, offering investment solutions that aim to provide long-term financial stability for Thai investors.
This collaboration aims to explore all dimensions of investment like never before, ensuring maximum benefits for clients with a customer-centric approach under the concept of “Your Success. Our Success.” SCB WEALTH and BlackRock will work closely together, accessing in-depth investment data and conducting joint analyses to provide clients with better information for investment decisions. We will work together to identify suitable investment strategies for Thai investors, aiming for long-term returns. In addition, we will develop and design a variety of products of exclusively for SCB WEALTH clients. Additionally, BlackRock will collaborate with SCB Wealth Academy to develop training programs for relationship managers (RMs) to enhance their investment knowledge and understanding of investment products and provide customer service that meets as well as providing consultancy and experience sharing to enhance the efficiency of investment advisory services, including co-branded marketing efforts and knowledge sessions for investors nationwide.
Talking about the partnership, Mr. Andrew Landman, BlackRock’s Deputy Head of Asia Pacific and Head of Asia Pacific Wealth, said, “Our collaboration combines BlackRock’s global investment know-how with SCB’s deep understanding of local client needs and local expertise in wealth management. We hope this partnership will bring more globally diversified opportunities to high net worth and mass affluent investors in Thailand to meet their long-term financial goals.”
According to Statista Market Forecast, the wealth management industry in Thailand shows continuous growth. It is expected that assets under management will increase to $86.74 billion by 2025, and to $88.49 billion by 2029. This growth is driven by economic expansion and improved infrastructure, leading to an increase in the number of high-net-worth individuals (HNWIs) in Thailand. These HNWIs are seeking more sophisticated investment solutions in a rapidly changing world, such as multi-asset investments, to diversify their portfolios, reduce volatility, and achieve long-term profitability. Based on such insights, an investment portfolio will be developed exclusively for SCB WEALTH clients, managed by a specialized team in the Asia-Pacific region, and supported by a global network of over 500 multi-asset investment experts. It will be managed with a long-term investment perspective, utilizing in-depth investment research to help clients make better-informed decisions and truly understand the benefits of multi-asset investing.
Furthermore, the collaboration will support SCB WEALTH in achieving its goal of increasing global investment assets to THB 180 billion by 2026, recognizing the opportunity to generate good returns for clients and provide access to high-quality global investment solutions, especially in today’s volatile and rapidly changing markets. BlackRock will collaborate with SCB WEALTH as its sub-advised investment manager to provide SCB WEALTH clients with innovative investment options designed exclusively for SCB WEALTH clients. BlackRock will also provide in-depth investment analysis and share experience in training financial advisors. This will enhance financial advisors’ understanding of diverse investment products, enabling them to deliver professional, world-class service to clients. This collaboration aims to support SCB WEALTH to become the top choice for clients in all aspects of investment, achieving the set target for global investment assets.
