Kasikornbank Private Banking designs all services using 3-S strategies, spanning: (i) the S-Curve, denoting fast growth in tech for instance; (ii) Sharing, which covers charitable giving and legacies; & (iii) Sustainability, which prepares clients for the coming Environmental, Social, and Governance (ESG) investment environment where carbon net zero goals, social responsibility and so on will be key considerations and growth drivers. It is this strategic approach that saw the bank Highly Commended (HC) at the virtual PBI Global Wealth Awards 2021 as an Outstanding Private Bank: Southeast Asia and Best Bank for Sustainability and ESG Leadership – Corporate Strategy.
The commendations are for far-sighted the far-sighted S-strategies and the way they are aligned with mutual funds and other investment options to engage clients in thinking about the future, where to find growth, and what legacy they want to leave behind.
(i) S-Curve: A mathematical term that in business can denote fast growth, Kasikornbank Private Banking uses it to identify ‘New Economy’ businesses, such as fast expanding tech or online firms, that its clients can invest in. The K-HIT, ONEUGG and PE TECH are the leading mutual funds in this category and, as these are necessarily new economy businesses, clients can easily access profits from global trends. The new economy concept has been disseminated via seminars, video clips, articles and so, providing a path to the funds.
A Real Estate Advisory team has also separately been formed to offer fast growth non-capital market solutions. It works with the Family Wealth Planning and Investment Advisory teams to provide effective solutions.
(ii) Sharing: According to Kasikornbank’s research, most high-net worth individuals (HNWIs) face trouble in searching, diversifying and choosing charities they want to help, after they’ve successfully grown wealth and preserved it. That is why it is part of the bank’s strategic vision to set up a team that can establish charities and why they also help charities themselves invest for the longer-term. Educational events, and speakers from the third sector, government and clients, are also facilitated to encourage donations to worthy causes and encourage clear-sighted policies.
(iii) Sustainability: internally at the bank also means educating clients about professional management and portfolio diversification to smooth out volatility and assure a sustainable return. But the key issue is product selection and getting investors to be aware of and support ESG social and environmental goals. Not only for their worth in themselves, but because they offer fast growth as developed government’s set carbon net zero goals driving future multinationals’ considerations. Kasikornbank Private Banking offers clients its K-CHANGE, K-HIT, and K-CLIMATE mutual funds for these reasons. It also hosted a seminar from former US Vice President, Al Gore, a renowned environmental activist, to share his knowledge and insights in this area with participants.
Technology is an important enabler for Kasikornbank Private Banking in delivering its strategic S-messages to clients and filling its funds, especially during the Covid-19 pandemic when video, online seminars and so on came to the fore as a means of communicating with clients in lockdown. The bank developed a YouTube TV Channel populated with regular updates from experts, Facebook messaging, and a Line messaging app group to keep clients informed remotely and regularly during the pandemic, which is now an on-going benefit.