Stanbic Bank Kenya has launched a new business unit called Wealth dedicated to offering a complete range of financial services including Life and General insurance, investments, health solutions and international products/services for individual and business clients across all points of contact with customers.
It becomes the bank’s third business unit, dedicated to serve the bank’s growing Personal and Business Banking, as well as Corporate and Investment Banking client base.
Speaking during the launch, Stanbic Bank’s Regional Head of Wealth (East Africa), Adam Jones said that the renewed focus on the wealth offering is guided by customer needs and demand.
“Our customers in Kenya are getting more sophisticated. We have more and more individuals and organisations seeking wealth-type products. It is this demand that we intend to cater for by offering the best range of financial services and products; hence the decision to give it the right focus within the organisation with the creation of this unit. We expect this trend to continue growing in Kenya, which holds the best outlook for long term investment,” Mr Jones explained.
In delivering the Wealth proposition, the new division will leverage on the capabilities of Stanbic Bank Kenya as well as strategic partnerships with Liberty Group.
The Managing Director of Liberty Life Assurance, Abel Munda, said: “This partnership enables us to deliver a superior, enhanced and innovative value proposition to our customers that takes care of all their financial services needs. The one-stop shop facilitates us to analyse, assess and advise clients efficiently based on their individual needs.”
Through the connections to offshore capabilities in Isle of Man, Jersey and Mauritius, as well as onshore capability, Stanbic Bank Kenya will offer investment products and solutions across all customer segments.
“Wealth is not only for the wealthy; it is for everyone. This is the reason we are integrating Wealth across our range of financial services so that we can offer Universal Banking and Financial Services solutions proposition more holisitcally and seamlessly from a single point of contact. We have the expertise, people, network of partners and ability to offer our clients an unmatched experience and one solution for all their on-shore and off-shore financial planning needs,” Mr Jones added.