SCBS Chief Executive Officer Mr. Kampol Jantavibool noted that parent company SCB has adopted a new platform to better serve client needs as part of its transformation process dealing with digital disruption. One of the key strategies adopted by the bank is to apply technologies to enhance the efficiency of wealth management for clients. With this advanced technology clients will quickly receive services and data catering to their needs, so they will have more opportunities to earn more attractive returns.
SCBS, as one of the key channels supporting the Bank's wealth management strategy, collaborated with SCB last year in developing and offering products, services, and investment knowledge via the SCB Investment Center and bank branches nationwide to ensure clients have access to a full range of investment services.
To service client investment needs in all targeted segments, particularly the wealth segment which has much room for growth, SCBS has formed a "Wealth Research" Team to provide investment advice and in-depth investment analysis for local and overseas financial products via analysis reports for investors based on their investment portfolios so proper investment decisions can be made. The company believes that wealth research quality will be key in helping clients fulfill their financial transaction and investment goals.
The "Wealth Research" Team includes:
- SCBS Managing Director, Investment Strategy Department, Research Group, Mr. Sukit Udomsirikul is responsible for analysis of the fundamentals of securities listed on the Stock Exchange of Thailand (SET) and the Market for Alternative Investment (MAI), investment strategy analysis, technical analysis of the SET and TFEX, and the preparation of research on all financial products to develop a proper and comprehensive investment strategy for every investor.
- SCBS Senior Vice President, Wealth Research Department, Dr. Piyasak Manason is responsible for the analysis of the macro-economy and fundamental investment.
- SCBS Senior Vice President, Wealth Research Department, Mr. Payon Pongsawaree is responsible for providing investment advice to investors. He has over 12 years of experience in fund management and investment.
- SCBS Senior Vice President, Wealth Research Department, Research Group, Ms. Natwarin Tripobsakul is responsible for the analysis of fundamental investment in medium and small-cap stocks.
- SCBS Senior Vice President, Wealth Research Department, Research Group, Mr. Sittichai Duangrattanachaya is responsible for the analysis of Thai and foreign stock fundamentals.
SCBS Managing Director, Investment Strategy Department, Research Group, Mr. Sukit Udomsirikul said SCBS realized the growth potential of wealth segment clients and understands that new research is needed because wealth management requires a wider variety of asset investment perspectives. Consequently, the company formed a "Wealth Research" Team to prepare research covering the analysis of Thai stocks, foreign stocks, debentures, structured notes, and mutual funds so clients can use them for making correct investment decisions in a timely manner. In addition, to ensure it meets international standards the firm has teamed up with internationally-recognized think tank Morningstar to bring data and analysis reports supporting research on mutual funds and foreign stocks.
Mr. Sukit said the company forecast 2019 overall investment returns outperforming 2018 returns. Good quality assets at suitable prices will provide outstanding returns. Should the global economy grow at too slow a pace, the main central banks, including the US Federal Reserve (FED), will ease stringent financial policies or even go back to adopting an easing policy, which will benefit financial markets. However, financial markets will suffer if the FED continues raising the policy interest rate and the US-China trade war intensifies following the current truce.
Mr. Sukit went on to say that SCBS believed that foreign capital will gradually move from the US stock market to emerging markets. Some capital will be relocated from new-economy securities, such as technology stocks, to old-economy securities, such as consumption and infrastructure stocks. Still, no economic recession factor is seen in the major economies for this year.
Regarding investment strategy, Mr. Sukit suggested that investors buy stocks on the Thai bourse, particularly in the local consumption and investment segments. He forecast the Chinese stock market recovering in the short term. Investment in the US stock market should be made only when valuation is appropriate. He also suggested investors distribute investment in alternative assets, such as REIT, IFF, and gold to avoid capital volatility.
SCB First Executive Vice President, Private Banking Division, Ms. Lalitphat Toranavikrai, said the overall segment of Thailand's ultra-high-net-worth clients, those with assets worth 50 million baht or more, has grown continuously. At present, there are around 123,000 clients in the segment, with total assets under management (AUM) worth around 20 trillion baht, up 13.3% from 2017. The current number of SCB Private Banking clients is more than 10,000, with assets under management totaling 750 billion baht.
SCB believes the ultra-high-net-worth client segment has potential and much room for growth. The bank is well-prepared for competition to tap the clients given the capability of the Estate Planning & Family Office, which is a team of financial advisors engaged in nurturing and maintaining the wealth and assets of its clients from generation to generation and catering to their real needs, with the competence of the Chief Investment Officer Team serving as the key brain for the investment strategy management of SCB Wealth clients. Last year the bank developed a wealth platform using the strength of the team of advisors with financial expertise and state-of-the-art technology to serve the needs of ultra-high-net-worth clients. It also formed an alliance with Swiss private bank Julius Baer to nurture the boundless wealth of clients keen on off-shore investment.
To further fulfill clients' needs for on-shore investment, Ms. Lalitphat said that SCB Private Banking has of late forged cooperation with SCBS to prepare stock investment analysis reports tailored to the individual needs of its clients. The specially-selected open architecture investment platform is also offered as an investment option for the enhanced wealth of clients and to serve their needs in a professional and unlimited manner, in line with the service philosophy of "It's a Matter of Trust."
Ms. Lalitphat said that the "Wealth Research" Team and SCB Private Banking planned to hold seminars throughout this year to provide ultra-high-net-worth clients with complete and in-depth data to support their investment decisions and nurture their private and business wealth. The first seminar, titled Perspective and Direction on the Thai Capital Market in 2019: "Opportunity Beyond the Unpredictable Market" will be held soon.