Trust and Long-term relationships make the difference

The Dutch institution, ABN AMRO, is one of the oldest foreign banks in Asia, starting with its Asia establishment in Jakarta or as it was then known, Batavia, dating back to 1826. In Hong Kong, its roots trace back to 1906 when it began as a deposit-taking branch of the Netherlands Trading Society. According to Executive Director Arjan de Boer, Head of ABN AMRO Private Banking for North Asia, this deep local heritage allows the bank to understand the needs of Asian clients very well. Having a discreet, disciplined Dutch/European banking style has also allowed the bank to weather the recent economic turmoil unruffled.

Focusing on High Net Worth Individuals and their families with assets available for investment exceeding USD1 million, ABN AMRO Private Banking has many investment opportunities to offer them, including a global footprint spanning 13 markets and over 4,400 professionals who have expertise in a wide range of specialist areas such as wealth structuring and making investment recommendations. Its global network of experienced professionals includes research analysts, economists, portfolio managers, estate planning experts and product specialists. Each client has a dedicated client service team comprising of a private banker, an assistant private banker and /or an investment advisor.

The dedicated teams work with the bank’s open architecture product platform that provides clients with access to the best possible products and services regardless of location or provider. They source and offer the most suitable investment opportunities that suit clients’ financial objectives and risk profiles.

To help clients make sound investment decisions, ABN AMRO Private Banking’s dedicated teams offer clients pre-filtered information and discerning market analysis drawn from specialist expertise in every financial discipline and local market knowledge across every major financial centre of the world. It operates in a world-class platform that competes comfortably with the top private banks globally by offering clients a more personal, hands-on approach to individualised investment portfolio construction and wealth structuring. If a client’s circumstances change, the bank is there to provide the client with active guidance on adjusting the investment plan in line with the new financial priorities and recommend the proper portfolio mix and asset allocation to achieve the desired ends.

The dedicated teams at ABN AMRO Private Banking guide each client through four clear steps to establish the optimal investment solution. First the team establishes a client’s investment profile based on the client’s needs and objectives, established by thorough, mutual discussions and analysis of various investment options.

Then, the lead private banker of the team develops a proposal based on the client’s profile and gathers recommendations from the bank’s research and advisory teams. Third, the client examines the recommendations and gives approval of the detailed investment plan, which is then ready for execution.

Finally, once implemented, the portfolio is regularly reviewed with the client by the private banker so as to help the client quickly respond to any changes in the world economic scene or changes in the client’s individual needs or ambitions. These four steps also allow the team and the client to establish a close relationship based on factual information and trust.

“Relationships drive our business. That’s why we always strive to have long-term relationships with clients by putting their interests first. We do not just focus on offering the highest yields to our clients. Instead, we focus on providing tailor-made wealth structuring and wealth management solutions to address each individual client’s needs because we recognise each client is unique and different. We believe personalised investment plans yield long-term benefits for our clients. Although there was a dip in the world’s economic picture in the last couple of years, most of our clients chose to stay with us because of this long-term relationship that has built trust between us”, de Boer said.

“Hong Kong came through the economic turmoil very well. We see some of our clients decide to move more into property or areas they know best, which leads to a growth in home buying meaning they put the money in the local market or close to home. We always encourage our clients not to be distracted by short-term fluctuations, instead looking at the ‘big picture’ to exploit sound investment opportunities for long-term value cultivation”.

De Boer said, “Hong Kong’s high net worth investors are very savvy and are now more inclined to take advice only from a trusted partner who is sufficiently well-versed with product knowledge and the necessary skills to manage their portfolios. One of our key focuses is to ensure our staff be well trained on product and technical knowledge as well as necessary behavioral skills to deliver independent and tailor-made solutions to clients.”

“This is why we are committed to continuing our investment in people learning and development with a new initiative in partnership with the leading international business school INSEAD on a customised certification programme for ABN AMRO private bankers all over the world, including those in Hong Kong. The aim of this programme is to establish the highest standards of knowledge, skills and behaviour among our private bankers worldwide so that each of them can deliver the same high level of services in all markets where we operate. This represents a significant outlay of resources. ABN AMRO is the only private bank with this partnership with INSEAD and is another important incentive for our staff for their long-term career development”, de Boer explained.

“Because our staff is well equipped and trained, we get most of our new business through referrals from existing clients on the basis of their experience of good results and personal treatment. That in itself is a testament to our way of doing business and the returns we can offer our clients”.

ABN AMRO Private Banking offers a variety of ways for its clients to manage their portfolios as well. Discretionary Portfolio Management (DPM) is an attractive solution for clients who wish to make their capital work for them but do not have the time to analyse the everchanging investment landscape. They can trust their ABN AMRO DPM team to review and actively manage their assets on their behalf for a peace of mind. ABN AMRO Private Banking has one of the top fund managers, Francois Moute, who has consistently delivered returns for clients in DPM solutions.

Another unique service at ABN AMRO Private Banking, international estate planning, offers personalised service to clients to make the right plan to convey clients’ inheritance to the loved ones, the future generations or a particular philanthropic cause. “Succession planning is a strategic combination of wealth preservation and effective wealth transfer”, de Boer said. “We expect Asian business families to increasingly engage for professional advices in the succession planning process. Our strong global networks and local experts enable us to ensure clients’ legacy is preserved and transferred optimally.”

Due to the breadth of the services ABN AMRO Private Banking offers, clients can turn to the private bank for almost all their investment and wealth management needs. It is always important to have a welldiversified and well-balanced portfolio. “Ultimately”, de Boer said, “we are here to assist our clients in making well informed decisions when it comes to their portfolio to fulfill their individual needs, be it wealth creation, preservation or transfer.”