Standard Chartered Bank has unveiled a bold new wealth advisory campaign in Kenya as part of a Ksh.193.8 billion (USD 1.5 billion) global investment aimed at serving high-net-worth individuals and the emerging affluent.
The campaign, dubbed “Now’s Your Time for Wealth,” is part of the lender’s five-year strategy to bolster its affluent business globally. The initiative is designed to attract entrepreneurs, sophisticated investors, and a growing class of upwardly mobile clients seeking tailored financial solutions.
“We are well-positioned to continue showing clients market opportunities and supporting their wealth ambitions with our diversified wealth product offering,” said Edith Chumba, Head of Wealth & Retail Banking at Standard Chartered Kenya. She highlighted the bank’s focus on digital wealth capabilities and a robust advisory platform as key elements of the campaign.
Half of the global investment will go towards hiring and developing elite relationship managers and wealth specialists. A further 25% will be used to enhance brand visibility and deepen Standard Chartered’s identity as a premier wealth management provider.
Chumba noted that the bank’s international reach, spanning 25 markets with key wealth hubs in Singapore, Hong Kong, Dubai, and Jersey, positions it to address both local and cross-border financial needs.
“Our vision is to serve clients across a global affluent continuum. As they accumulate wealth, they seek high-value returns, and we are uniquely equipped to offer solutions that match every stage of their financial journey,” she said.
Kenya’s growing wealth landscape supports the bank’s strategy. According to the 2024 Africa Wealth Report, Kenya ranks fourth in Africa in the number of dollar millionaires and is projected to see a 65% increase in millionaires over the next decade.
With this new initiative, Standard Chartered aims to cement its place as a leading wealth management partner for Kenya’s rising affluent class.
Written By Rodney Mbua