FirstBank Ghana has launched its Private Banking and Wealth Management service for high-net-worth individuals, focused on wealth preservation and investment growth. The service aims to navigate economic challenges providing tailored financial advisory solutions. Key executives highlighted the significance of personalized banking and potential investment sectors, reinforcing the bank’s long-standing reputation in global banking.
FirstBank Ghana has launched a Private Banking and Wealth Management service aimed at high-net-worth individuals, focusing on wealth preservation and growth. This initiative aligns with the bank’s customer-focused strategy and is intended to broaden its services within the Ghanaian market. It will offer tailored financial advisory services to help clients navigate economic challenges while optimizing investment portfolios.
During the launch event on March 14, FirstBank Ghana’s Managing Director, Victor Yaw Asante, emphasized the necessity of segmenting clients by financial needs. He pointed out that while the bank already caters to various sectors, this new service specifically targets individuals aiming to protect their wealth from inflation and depreciation. “We recognize that individuals with significant wealth require specialised financial solutions,” he stated, underscoring the service’s objective of wealth preservation and strategic growth.
Mr. Asante later reassured attendees that FirstBank’s mission is not to compete for market share but to deliver exceptional, personalized banking services. He noted that existing clients already seek these specialized solutions, marking this service introduction as a significant development for wealth management in Ghana. A formal launch of the wealth management service is slated for later in the year.
Group Executive from FirstBank Nigeria, Idowu Adebayo Thompson, provided insights on wealth management’s importance. He stressed that wealth typically declines significantly by the third generation without structured management. “Ghana is at the frontier of many economic changes, and with the right financial planning, individuals can protect their wealth from inflationary pressures and currency fluctuations,” he conveyed.
Thompson identified investment opportunities in sectors such as real estate, infrastructure, technology, and agriculture, which can be beneficial for FirstBank clients. Mr. Olukorede Adenowo, Managing Director of FirstBank UK, highlighted the importance of global banking for wealth security, citing the bank’s vast experience over 130 years in diverse markets. He emphasized the availability of various financial products, including fixed-income products, equities, and mortgage solutions for overseas property investment, essential for safeguarding assets against economic uncertainties.
FirstBank Ghana’s introduction of its Private Banking and Wealth Management service demonstrates a strategic move to support high-net-worth individuals. The focus is on providing tailored services that preserve wealth and facilitate investment growth against economic challenges. By leveraging their global banking experience and emphasizing structured wealth management, FirstBank aims to be a trusted partner for wealth accumulation and protection in Ghana.
Original Source: www.graphic.com.gh
