CTBC Bank
CTBC Bank has long been a leader in private banking in Taiwan.
The island’s wealth management industry is huge and growing, and serves a population that is both rich and ageing: Capgemini put Taiwan’s high net-worth population at 142,400 at the end of 2016, with a combined fortune of $464 billion. That marked a year-on-year rise of 11.9%, with total HNW wealth up 12.4%, faster than any Asian economy bar Thailand and Indonesia.
CTBC, more than any domestic bank, has invested consistently and heavily in its private banking platform. Its 950 specialist advisers are divided into four levels of customer service, each focusing on financial or insurance planning, investment advice and intelligence, helping HNWs to manage their assets, both onshore and offshore, with efficiency, flexibility and transparency.
CTBC’s success is due in large part to its ability to help wealthy clients and their families plan for the long term, by educating them at every opportunity. That helps to explain why its Family Membership programme, which is tailored to the exacting needs of HNWs and UNHWs, added more than 3,000 family members with combined assets of NT$8.2 billion ($275 million) in 2017 and lifted assets under management by 10.7%.
CTBC also holds regular tax and trust forums, which tailor financial advice to next-generation family members, helping to plan their education and their careers, to live in the here-and-now, and to invest for the long haul.