RCBC wealth mngm’t unit targets 16% portfolio hike
Louise Maureen Simeon (The Philippine Star) - July 31, 2015 - 10:00am

MANILA, Philippines - The Wealth Management Group of Rizal Commercial Banking Corp. (RCBC) is targeting a 16 percent increase in its assets under management (AUMs) this year.

The private banking arm of RCBC said it is eyeing of total P83.5 billion in AUMs in 2015 by focusing on diversifying the portfolio of its clients.

The Wealth Management Group caters to high net worth clients including entrepreneurs and professionals looking for various alternative investment options. These include fixed income, trust funds, mutual funds, and insurance, among others.

RCBC Wealth Management Group head Manuel G. Ahyong Jr. said they are expanding the bank’s menu of services by partnering with trust groups in the Japanese and American equity markets.

“We want to be a domestic private bank with a global perspective,” he added.

It is only this year that the group started offering foreign investment portfolio to its clients and it is also looking into possibilities of entering the equity markets of Hong Kong and Europe in the coming years.

Meanwhile, Ahyong also sees a positive trajectory for the Philippine market, saying its general trend is towards growth considering that the country has one of the youngest demographic profile and one of the fastest gross domestic product (GDP) growth.

“It is a good market to invest in in the next five years,” he said.

Ahyong said among their high net worth clients, majority are in Metro Manila and Luzon, with a good base in Cebu and growing customers in Davao.

Over the past five years, the group increased its AUMs 20 percent and the number of clients 16 percent.

ACIRC AHYONG AHYONG JR. CEBU DAVAO HONG KONG AND EUROPE JAPANESE AND AMERICAN MANUEL G METRO MANILA AND LUZON WEALTH MANAGEMENT GROUP WEALTH MANAGEMENT GROUP OF RIZAL COMMERCIAL BANKING CORP
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