CIMB Rolls Out Private Wealth Services for High-Net-Worth ASEAN Clients

Malaysian financial giant CIMB Bank Berhad has launched CIMB Private Wealth, a specialized wealth management service targeting affluent clients across Southeast Asia. The bank aims to double its wealth assets under management by 2030, with the new service set to expand to Singapore and Thailand by year-end. CIMB Private Wealth combines institutional financial services, advisory support, and wealth products designed to help clients with capital growth, asset protection, and succession planning. Clients will gain access to MyWealth on CIMB's OCTO mobile banking app, along with premium privileges across the bank's ASEAN network, including the CIMB Private Wealth World Elite Card. CIMB Group's consumer banking CEO, Haniz Nazlan, highlighted the evolving nature of wealth management in the region, noting that multiple generations are simultaneously engaging in wealth creation, protection, and intergenerational transfer. This initiative aligns with CIMB's Forward30 strategy, which seeks to cater to the changing needs of savvy affluent clients. The service will support high-net-worth individuals and business customers with investment, lending, and protection products, while leveraging CIMB's commercial and wholesale banking network.

The launch reflects the digital and global transformation of wealth management in Southeast Asia. CIMB's strategy responds to the rising demand for specialized wealth services among high-net-worth individuals in the region. The sector is poised for further digitalization and personalization in the coming years.