BDO Private Bank managed funds hit $5.1B

MANILA, Philippines - BDO Private Bank said its assets under management (AUMs) reached $5.1 billion (roughly P219 billion) at the end of May this year as its client base grew from 5,800 customers in March 2012 to 6,370.

Average client portfolio also grew 8.5 percent to P38 million.

BDO Private Bank is a subsidiary of BDO Unibank Inc. It is the only domestic bank in the Philippines providing expert and professional private banking services. It is focused on giving comprehensive wealth management services to the country’s high net worth individuals and modern affluent markets.

According to Finance Asia, BDO Private Bank stood out as the country’s leading private bank.

The leading financial publication in the region has cited the BDO subsidiary as the best private bank in the Philippines “for tailoring its services to meet clients needs, offering bespoke investment strategies, and reviewing portfolios regularly.”

It said the wealth management bank of the SM Group had long term relationships with the country’s successful entrepreneurs and influential families.

“The cornerstone of its service offering is to preserve the wealth of future generations by establishing and managing trusts, helping with estate planning and advising on life insurance,” Finances Asia said.

A major advantage of BDO Private Bank is the assistance and support of the SM Group and other affiliates.

The wealth management bank offers peso and foreign currency settlement accounts, multi-currency deposits and fixed-income securities and derivatives.

It excels in family office series, offering investment and asset management, family office administration, and corporate governance and reporting.