Maybank Securities Thailand Shifts Strategy to Boost Wealth Management
Maybank Securities Thailand (MST) is restructuring its business model to reduce reliance on stock trading commissions, aiming to grow its wealth management portfolio significantly by 2029.
According to Prachachat Business, Maybank Securities Thailand (MST) has announced a strategic shift to diversify its revenue streams. Currently, 84% of the company's income is derived from stock trading commissions. The firm intends to reduce this dependency to 50% by expanding its wealth management services. CEO Araphat Sangkharat stated that the company aims to increase its wealth management portfolio from 28 billion baht to 80 billion baht by 2029, with a long-term goal of reaching 500 billion baht in Assets Under Management (AUM). The strategy leverages a current client base of 130,000 individuals to cross-sell financial products. For residents and investors in Thailand, this shift reflects a broader trend in the local financial sector toward fee-based advisory services rather than traditional brokerage models. While this move signals a significant internal transformation for one of Thailand's major securities firms, the actual impact on retail investors and the broader market remains to be seen. The company has not yet detailed the specific new financial products that will be introduced to achieve these ambitious growth targets, nor has it provided a year-by-year roadmap for the transition.
