24.8 C
Dubai
Sunday, November 24, 2024
spot_img

Banking group launches wealth services for UAE ultra-high net worth individuals

[ad_1]

Middle East, North Africa and Turkey-based banking group Emirates NBD has launched a wealth service to cater to the needs of its ultra-high net worth client base.

The launch is a direct response to the rise of the UAE as a new hub for the ultra-wealthy. According to a report by management consultancy Boston Consulting Group, 41 percent of the UAE’s wealth will come from ultra-high-net-worth individuals in 2021, a proportion that is expected to grow to 43 percent by 2026.

The invitation-only offer is designed to meet the needs and goals of ultra-wealthy clients, who maintain an average balance of AED 7 million (£1.5 million, $1.9 million, €1.7 million) in deposits and investments.

Signature clients will have access to a Senior Relationship Manager dedicated to understanding their individual banking needs, as well as a dedicated Senior Wealth Advisor to provide insights into investment and financial planning requirements.

In addition, they will have access to a range of products and services including Emirates NBD’s in-house derivatives trading system, Lombard lending, offshore asset allocation and foreign exchange solutions.

Yousuf Saeed Mohd, Senior Vice President and Head of Priority Banking and Retail Wealth Management, Emirates NBD, said: “With the UAE fast becoming the destination of choice for the world’s ultra-wealthy, we see this as an opportunity to support the segment’s premium banking needs.

“This has encouraged us to launch a new niche, highly personalized value proposition, Signature by Priority Banking, created with careful consideration of the preferences, lifestyles and expectations of our elite and affluent Priority Banking customers.”

[ad_2]

Source link

Related Articles

UAE Operation ‘Chivalrous Knight 3’: Over 121 Aid Shipments Delivered to Gaza Amid Humanitarian Efforts

UAE has reinforced its dedication to humanitarian relief through the ongoing effort known as Operation ‘Chivalrous Knight 3.’   This initiative has seen the UAE dispatch...

With an eye towards its IPO on Nasdaq and Euronext, AAD Invest Group finalizes a EUR 75 million funding agreement with Global Emerging Markets...

AAD Invest Group finalizes a EUR 75 million funding agreement with Global Emerging Markets (GEM) About AAD Invest Group – Nov 2024 Founded in January 2024...

UAE Strengthens Global Ties: President Welcomes Qatari Prime Minister, While Crown Prince Leads at G20 in Brazil

UAE is making significant strides in strengthening its international relations, with recent diplomatic activities highlighting the country's growing influence on the global stage. In a...

Abu Dhabi Crown Prince Leads Strategic Talks at G20: Strengthening UAE-Brazil Relations for a Prosperous Future

Abu Dhabi’s Crown Prince, H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, is currently in Brazil to participate in the G20 Summit, a...

From Seed to Superfoods The Inspiring Journey of Bharat Budhiraja and Urbana Superfoods

In a world teeming with fast-paced food trends, Bharat Budhiraja is charting a unique path with his brand, Urbana Superfoods, owned by Krish Perennials Pvt....

Latest Articles