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Vietnam

MB officially launches MB Private

Military Commercial Joint Stock Bank has officially launched MB Private, an exclusive wealth management arm targeting high net worth individuals, opening its landmark MB Private Banking Center in Ho Chi Minh City.

With shared and guided expertise from Swiss private bank Bordier & Cie, the arrival of MB Private marks an important milestone for Military Commercial Join Stock Bank (MB) in becoming the first local bank to provide a private banking service in Vietnam, according to a Bordier & Cie press release.

Pioneering Swiss-standard private banking in Vietnam, MB Private offers a suite of advisory and financial services and dedicated Relationship Managers with local expertise and global know-how. The specialised unit provides tailored wealth management, going beyond the standard array of banking services. The newly launched unit aims to provide a wide range of solutions including corporate banking, investments, insurance and credit solutions, inheritance and estate planning as well as bespoke lifestyle services.

Supported by Bordier, these financial solutions will be personalised around the clients’ own investment objectives, risk appetite and life goals while ensuring that their legacy remains for generations to come. True to private banking form, an MB Private client will have a trained Relationship Manager to help guide them in meeting their objectives. In addition, clients will also gain exclusive access to MB Private’s bespoke services which tap on Bordier’s longstanding global network of best in class solution providers.

Together with Bordier, MB Private will organise a series of events catered to give its clients a first-hand look at wealth management solutions. The knowledge sharing sessions will focus on topics such as succession planning and investments in real estate with an aim to spark conversation and ideas among like-minded private clients.

Luu Trung Thai, CEO, MB, said “Private Banking is a long-standing service designed for individuals and families with significant wealth. The group is witnessing a substantial increase in sise in Vietnam. However, although services such as asset management or investment advisory have existed for a long time in Vietnam, anchoring and delivering a holistic solution like Private Banking is still a challenge that has not been solved for domestic financial institutions. This is the motivation for our collaboration with Bordier & Cie, a leading Swiss private bank with over 175 years of experience, to create a top-quality service for Vietnamese high-net-worth individuals.”

Evrard Bordier, CEO and Managing Partner, Singapore, Bordier & Cie, said “MB Private also represents a crucial evolution in the private banking industry. I am delighted that MB has chosen to work with Bordier in building its first wealth management unit. We are excited to get a first-hand glimpse of Vietnam’s transformation and foray into private banking and we are honoured to be on this journey with MB.”