CfC Stanbic Bank’s Wealth and Investment division has been named the best private bank in Kenya at the Global Private Banking Awards organized by The Banker & Professional Wealth Management Magazines; publications of the Financial Times Group.
The award was presented at a ceremony that took place in Singapore yesterday.
Receiving the award, CfC Stanbic Bank Head of Wealth and Investment Anjali Harkoo said the award was a testimony to the quality of the bank’s unique customized solutions that cuts across investment management through to succession planning and generational wealth transfer.
“We are honored to be recognized as the Best Private Bank in Kenya. It is the first time that a Kenyan bank has been picked and it reflects our unwavering commitment to providing our high-net worth clients and their families with first class wealth planning and investment advice through our Wealth and Investment division.” said Ms. Harkoo.
The awards are evaluated on the client relationship management blueprints and how the banks have adapted portfolio management, asset allocation and product strategy to meet investors’ changing needs and attitude to risk.
CfC Stanbic bank’s Wealth and Investment team prides itself in offering an integrated suite of end-to-end wealth management and bespoke banking solutions. Wealth and Investment has full services offices in Kenya, Nigeria, South Africa, Jersey and London and truly offer clients a seamless solution for their on and offshore wealth management needs. With the lowest client to Wealth and Relationship Manager ratios (50:1) in the industry, we provide a commitment to always respond before the sun sets.
“We place a strong focus on generational wealth and our recently launched Leadership Academies honor our purpose of banking the family and our belief in empowering the next generation of leaders. Our clients have access to the Junior Leaders’ (10 -12 years), Young Leaders’ (13 – 17) and Future Leaders’ (18-24 years) Academies where they are equipped with the necessary financial skills to grow and manage wealth into the future. These Academies were borne out of an understanding of the complexities that exist in managing family wealth, and a desire to ensure that next generation heirs are equipped to manage wealth and chart their own course,” added Ms. Harkoo.
Currently 70% of wealth is lost in the transfer to the second generation and 90% is lost in the transfer to the third generation. The Academies empower and educate the families of the CfC Stanbic bank Wealth and Investment clients on the principles of investing, banking / lending, financial planning, leadership and philanthropy.
CfC Stanbic Bank is a member of Standard Bank Group whose Wealth and Investment division was also recently recognized as the leading Private Bank on the African continent at the 25th Annual Private Banker International (PBI) Global Wealth Summit and Awards.