Press Release 2018
UOB Malaysia reconfigures its Bangsar branch to focus on its wealth management customers
Kuala Lumpur, Malaysia, 28 February 2018 - United Overseas Bank (Malaysia) Bhd (UOB Malaysia) today announced the official opening of its wealth management concept branch in Bangsar, one of Kuala Lumpur's most affluent residential suburbs. This is UOB Malaysia's first branch specially configured to serve the wealth management needs of its customers.
The Bank's comprehensive suite of advisory services and wealth management solutions are offered at the Bangsar branch where accredited wealth advisers will also advise customers on how to invest and to grow their wealth.
Mr Wong Kim Choong, Chief Executive Officer, UOB Malaysia, said as Malaysia's affluent population grows, banks must be prepared to meet the requirements of this wealth segment through tailored services and solutions.
"As the wealth of an individual increases, so does the complexity of managing their assets and meeting their financial objectives. This is why we redesigned this branch specifically to meet the needs of our more affluent customer base. At our bank branch in Bangsar, our team of certified and highly experienced financial advisers are focused on helping affluent customers grow their wealth, protect their investments against risks and preserve their wealth from one generation to the next.
UOB Malaysia adopts a risk-based approach to providing financial advice and investment solutions. Through this 'risk-first' advisory approach, the Bank's team of client advisers regularly evaluate and review customers' investment portfolios to help customers navigate risk and make informed investment decisions and achieve their financial goals.
"Providing our customers with comprehensive risk disclosures, tailored advice and offering them the solutions that best meet their needs are integral to how we help them manage their money wisely to meet their financial goals," Mr Wong said.
In creating the branch's wealth management concept, the Bank drew on its insights into and understanding of the needs of its affluent customers.
"With an increasing number of our affluent customers using their mobile phones or going online to conduct simple banking transactions and to manage their accounts, the role of the branch has to evolve from the conventional. Our customers are now less likely to visit the branch for basic transactions and are more likely to visit the branch for customised services such as financial advisory. Taking this into consideration, we reconfigured the branch layout and focused on creating spaces for our customers to hold private conversations about achieving their financial aspirations. We will also conduct wealth management workshops and events at the branch as part of our continued commitment to help our customers plan, grow and protect their wealth," Mr Wong said.
The Bank has also equipped the branch with digital capabilities to enhance the banking experience of its affluent customers. They will have complimentary Wi-Fi and the use of mobile tablets for personal and business internet banking services. Branch staff will be at hand to assist them.
UOB Malaysia chose its Bangsar branch for wealth management given its strategic location and the affluent population in the area. Located just four kilometres from the city centre, Bangsar is easily accessible for those who work in Kuala Lumpur. It is also within close proximity to neighbouring affluent suburbs such as Mont Kiara, Sri Hartamas and Damansara Heights.
To provide its customers with greater convenience, UOB Malaysia's branch in Bangsar will be open six days a week from Monday through Saturday. It will operate between 9.30 am and 4.00 pm from Monday to Friday, and between 10.00 am and 3.00 pm on Saturdays . The branch, which is located at Bangunan Bangsaria, Jalan Maarof, also provides its customers with additional services such as valet parking, access to private meeting rooms and is home to the UOB (Malaysia) Painting of the Year Gallery.
1 UOB Malaysia defines its affluent customers as individuals having investable assets of RM150,000 and above.
2 Limited to services such as financial advisory and banking transactions via cheque and automated fund transfer through ATMs and UOB Malaysia's online banking platforms.
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