SCB and BlackRock tie-up in Thai wealth push

Siam Commercial Bank (SCB) Wealth has joined forces with BlackRock to enhance the wealth management offering in Thailand.

The partnership will grant SCB Wealth access to BlackRock’s investment expertise to develop long-term strategies and elevate advisory services to international standards.

BlackRock will also provide training for the Thai bank’s relationship managers (RMs) and financial advisers, strengthening their investment acumen. As SCB Wealth’s sub-advisory investment manager, BlackRock will also offer consultancy, co-branded marketing initiatives and investor education sessions nationwide.

The collaboration aims to refine SCB Wealth’s investment advisory efficiency and expand global opportunities for Thai clients.

“SCB Wealth aims to become Thailand's top wealth management business by 2026. This collaboration ensures best-in-class investment solutions for our clients, empowering them to build secure financial futures in a rapidly evolving economic landscape,” said Kris Chantanotoke, SCB’s chief executive officer.

Under the partnership, SCB Wealth and BlackRock will design exclusive investment portfolios for the bank’s clients. These will be managed by a specialised Asia Pacific (Apac) team and supported by a global network of over 500 multi-asset investment experts.

Additionally, BlackRock will work alongside SCB Wealth Academy to develop advanced training programmes for RMs.

Andrew Landman, BlackRock’s deputy head of Apac and head of Apac Wealth, highlighted the partnership’s significance. “We hope to bring more globally diversified investment opportunities to high net worth and mass affluent investors in Thailand, helping them achieve their long-term financial goals,” he said.

The collaboration also aligns with SCB Wealth’s ambition to grow its global investment assets to Bt180 billion ($5.3 billion) by 2026.