CIMB Thai Launches CIMB PRIVATE WEALTH for High-Net-Worth Clients

CIMB Thai has officially launched 'CIMB PRIVATE WEALTH,' a specialized wealth management service designed to cater to high-net-worth individuals. According to a report by Prachachat Business, the service is specifically tailored for clients with assets under management (AUM) of 30 million baht or more. The bank aims to provide personalized financial advisory services and exclusive experiences to this demographic. The strategic initiative includes an ambitious growth target, with the bank planning to expand its client base from the current 2,000 individuals to 5,000. Additionally, the bank expects to see a significant increase in its total AUM as a result of this new offering. For residents and expatriates in Thailand, this development highlights the ongoing expansion of premium financial services within the local banking sector. While the bank has outlined its growth targets and service focus, specific details regarding the full range of investment products and the timeline for achieving these expansion goals remain to be confirmed. This move reflects the competitive nature of the Thai banking industry as it seeks to capture a larger share of the affluent market segment.