FirstBank Ghana Launches Private Banking and Wealth Management Service

FirstBank Ghana has launched its Private Banking and Wealth Management service aimed at high-net-worth individuals, focusing on wealth preservation and growth. The initiative highlights tailored financial advisory services amidst complex economic conditions. The event featured key bank executives discussing the importance of specialized solutions and global banking support for preserving wealth.

FirstBank Ghana has launched its Private Banking and Wealth Management service, specifically designed for high-net-worth individuals to support wealth preservation and growth. The service reflects the bank’s longstanding customer-centric philosophy and aims to enhance its offerings within the Ghanaian market. Additionally, the bank intends to provide financial advisory services to assist clients in navigating complex economic climates while optimizing their investment portfolios.

During the launch event on March 14, Victor Yaw Asante, the Managing Director and CEO of FirstBank Ghana, reiterated the necessity of categorizing clients based on their unique financial needs. Asante noted that while the bank already serves various sectors including SMEs and corporate banking, this service is exclusively tailored for those desiring to safeguard their wealth against economic challenges such as inflation and currency depreciation.

Asante emphasized that the bank’s primary objective is to deliver exceptional service, stating, “Our Private Banking and Wealth Management service is designed to ensure that our clients’ wealth is not only preserved but also strategically grown through carefully selected investment instruments.” He further assured clients that the introduction of this service marks a significant step towards providing world-class wealth management opportunities within Ghana.

Mr. Idowu Adebayo Thompson, Group Executive for Private Banking and Wealth Management at FirstBank Nigeria, shared insights regarding the importance of wealth management for generational transfer. He pointed out that structured wealth management is essential, as over 70 percent of wealth typically dissipates by the third generation. He stated, “With the right financial planning, individuals can protect their wealth from inflationary pressures and currency fluctuations.”

Mr. Olukorede Adenowo, CEO of FirstBank UK, discussed the advantages of global banking in safeguarding wealth, highlighting the bank’s extensive experience and international footprint. He stated, “We provide financial instruments such as fixed-income products, equities and real estate investment opportunities.” Furthermore, Adenowo mentioned the availability of mortgage solutions for clients investing abroad, aimed at securing their assets against economic uncertainties.

FirstBank Ghana’s introduction of its Private Banking and Wealth Management service represents a significant expansion of its service offerings tailored to high-net-worth individuals. The initiative underscores the importance of specialized financial solutions for wealth preservation and growth. With a strong focus on customer needs and leveraging international banking experience, FirstBank is well-positioned to assist clients in navigating economic challenges while optimizing their investment strategies.

Original Source: www.graphic.com.gh