Standard Chartered launched its Wealth Management Connect (WMC) in 2021, with the bank delivering its 2.0 version in 2024. Enhancements to the platform include developments in the participating institutions, investors and investment product range that now better meet the diverse needs of investors in the Greater Bay Area.
Led by Yvonne Lam, managing director and head of Greater China corridor wealth and retail banking, Hong Kong, the bank’s efforts have seemingly paid off as WMC 2.0 saw its total balance increase 233% over that of its WMC 1.0 platform by March 2024.
In addition, for its Southbound Connect, Standard Chartered increased the number of wealth-management products to 550, including medium to high-risk funds. These efforts have contributed to southbound balance growth of 272% as of March 2024.
Looking at northbound connect developments, the bank introduced more than 40 publicly offered securities investment funds that covered varied industries including retail, energy, infrastructure, manufacturing and technology.
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