Brunei: Wealth Management
Wealth Management Industry
For a long time, wealth management in Brunei meant the business of looking after the royal family's very substantial private wealth, but rising oil prices in the last ten years and growing openness in the economy have broadened the pool of wealthy individuals and given rise to a small, if active international wealth management business.
RBC and HSBC are among the banks which have opened Brunei wealth management offices in the last few years.
Standard Chartered Bank recently held a Wealth Management training course in Brunei to enhance the knowledge and skills of the bank's financial consultants in order to provide better services to its customers.
"This training course is a pre-requisite for all wealth management financial consultants at Standard Chartered Bank. This is to ensure that all our staff are properly equipped with the necessary skills and knowledge on investment products so that they can analyse and introduce suitable investment products into Brunei's financial market," said Eng Siok Tin, SCB General Manager of Wealth Management.