Asiamoney recognizes Metropolitan Bank & Trust Co. (Metrobank) as the 2022 Best Domestic Private Bank in the Philippines.
According to Asiamoney, performance indicators noted for consideration include relative performance versus competitors, successes in achieving market share, coping with difficult or changing market conditions, among others.
The Bank’s Private Wealth team was established in 2016. Since then, the business has rapidly and successfully captured the attention of the Ultra High Net Worth (UHNW) segment in the Philippines. Through Private Wealth, customers are able to have access to the entire product suite of the Metrobank Group
“Metrobank’s ability to meet the needs of wealthy clients in an agile and smart manner went a long way during the worst volatility in the past year. It also helped Metrobank stay miles ahead of peers,” says Asiamoney Editor Rashmi Kumar.
Kumar also cites specific performance highlights. Metrobank Private Wealth’s assets under management and client base grew by a compounded 30% and 23%, respectively, since 2016; and this surge was bolstered with the growth of the Bank’s strength from six relationship managers to twenty by end-2022. “These show that Metrobank is serious about its wealth management ambitions. This makes it Asiamoney’s winner of the Best Domestic Private Bank in the Philippines for 2022,” Kumar adds.
Private Wealth aims for a consistent alignment of its service delivery platform to the Bank’s culture of delighting the customer: particularly one that produces solutions that address the high expectations of the UHNW segment. While this award clearly validates the effectivity of the Bank’s current product suite, operating structure, culture of accountability and teamwork, and committed action, the team will continue to work on unearthing its clients’ needs, developing product options, channel capabilities and service processes that will cater to clients’ requirements.
“We are honored to be named the Best Domestic Private Bank in the Philippines. This award is a validation of our focus and commitment to our UHNW client base. Wealth management and preservation for the ultra-high-net-worth is a challenging task which goes beyond financial management. More importantly, it involves the perpetuation of the family legacy. This is why it is equally important to ensure the general well-being of family members across different stages of life. There’s a lot more work to be done on this front. Our goal at Metrobank Private Wealth is to be our clients’ most trusted financial advisor and to develop a relationship with them that will span generations,” said Lizette Perez, Senior Vice President and Head of Metrobank Private Wealth.
For more information on Metrobank and its Private Wealth Division, please visit https://www.metrobank.com.ph/invest/wealth-management.