FirstBank Ghana Launches Private Banking and Wealth Management Services
FirstBank Ghana has launched a Private Banking and Wealth Management service aimed at high-net-worth individuals, intending to help them preserve and grow their wealth amid economic uncertainties. The initiative emphasizes tailored financial advisory and service excellence, with a formal launch scheduled later this year to further reinforce the bank’s commitment to client needs.
FirstBank Ghana has unveiled its Private Banking and Wealth Management service, aimed specifically at high-net-worth individuals seeking to preserve and enhance their wealth. The bank emphasizes its commitment to customer service and seeks to expand its offerings in the Ghanaian market. The primary goal is to provide comprehensive financial advisory to clients, helping them navigate through complex economic situations while optimizing investment portfolios.
The launch event on March 14 featured executives from FirstBank’s branches in Ghana, Nigeria, and the United Kingdom, who discussed the service’s anticipated influence on the financial landscape of Ghana. Victor Yaw Asante, Managing Director and CEO of FirstBank Ghana, affirmed the importance of tailoring banking services according to customers’ financial needs and indicated that this service would shield wealth from economic variables such as inflation and depreciation.
Mr. Asante stated, “We recognize that individuals with significant wealth require specialized financial solutions. 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 reiterated that the goal is not solely market competition, but rather to provide exemplary services tailored to client needs.
The formal launch of FirstBank’s wealth management service is projected for later this year, signifying the bank’s status as a reliable partner in wealth management. Bringing an international viewpoint, Mr. Idowu Adebayo Thompson, Group Executive for Private Banking and Wealth Management at FirstBank Nigeria, discussed the critical need for structured wealth management to mitigate risks of wealth erosion over generations.
He pointed out that over 70% of wealth typically fails to reach the third generation, underscoring the essential role of effective financial management in preserving wealth during economic transitions. Mr. Thompson added, “The democratisation of wealth means financial solutions should be accessible to more people, not just the ultra-rich.” He highlighted promising sectors for investment, such as real estate, infrastructure, technology, and agriculture, that clients could explore.
Moreover, Mr. Olukorede Adenowo, Managing Director and CEO of FirstBank UK, accentuated the importance of global banking in ensuring wealth stability and security. With over 130 years of experience and a presence in various international markets, FirstBank offers superior advantages to clients wishing to manage their wealth on a global scale. He elaborated on the diverse financial instruments available, which include fixed-income products and real estate investments, alongside mortgage solutions for overseas property ownership that help secure wealth against economic uncertainties.
In summary, FirstBank Ghana’s introduction of its Private Banking and Wealth Management service aims to cater specifically to high-net-worth individuals by facilitating wealth preservation and growth. With a strong emphasis on tailored solutions and comprehensive financial advisory services, the bank aspires to strengthen its role in Ghana’s financial landscape. The anticipated official launch later this year is intended to solidify FirstBank’s reputation as a trusted partner in wealth management, simultaneously addressing the broader market need for accessible financial solutions.
Original Source: www.graphic.com.gh
