Standard Chartered has launched its first high net worth center in mainland China to cater to the needs of millionaires in the country.
Standard Chartered has officially launched its first «Priority Private Center» in China, according to a statement. Located in Shanghai, the center will allow clients to gain access to relationship managers and wealth advisors, global investment opportunities and wealth solutions, legacy and succession planning, bespoke travel and healthcare services as well as enterprise and philanthropic advisory services.
Standard Chartered Priority Private is the bank’s wealth management business that targets high net worth individuals with a minimum balance of around $1 million. This sits in between Standard Chartered’s affluent and private banking segments.
Three-Year Plan
The new center is part of broader plans announced by Standard Chartered in February 2022 to invest $300 million in China-related businesses over three years.
«The opening of the Priority Private Center and the launch of the enhanced Priority Private proposition signifies Standard Chartered’s commitment to and insistence on high quality development,» said Richard Li, deputy chief executive, head of consumer, private and business banking, Standard Chartered China.
