Standard Chartered eyes $200b in net new money in next five years

The bank plans to expand its relationship manager team by 50%.

Standard Chartered is eyeing to acquire $200b in net new money over the next five years, alongside a double-digit growth in wealth solutions income, supported by a $1.5b investment commitment announced in October.

A significant portion of the investment will enhance its assets under management capabilities, including a 50% expansion of its relationship manager team by 2028, according to Judy Hsu, CEO of wealth and retail banking at Standard Chartered.

In a seminar, Standard Chartered also outlined plans to enhance its wealth capabilities through accelerated product innovation and digital client journeys, improved brand positioning as a wealth manager, and branch upgrades tailored to high-value-clients’ needs.

As affluent clients increasingly seek geographical diversification, the bank plans to leverage its extensive network, anchored by global wealth hubs in Hong Kong, Singapore, the UAE, and the US to meet their needs.

It will focus on serving global Chinese and Indian clients with its multilingual relationship managers and specials, who provide culturally attuned, cross-border wealth solutions tailored to them.

Standard Chartered also aims to achieve double-digit wealth income growth through continued product innovation and platform enhancements. In 2025, it plans to integrate advanced capabilities like structured products and risk analytics into its myWealth Advisor platform, further strengthening its advisory services.

It will deepen partnerships to help clients build resilient portfolios through its open-architecture platform.