BDO Private Bank bags top awards from two Asian business publications

MANILA, Philippines - BDO Private Bank, the wholly-owned unit of BDO Unibank Inc. specifically catering to the affluent market, was awarded for the sixth straight year as the Best Private Bank in the Philippines by both FinanceAsia and Alpha Southeast Asia magazines.

“BDO Private Bank stands out as the Best Private Bank in the Philippines for tailoring its services to meet clients’ needs offering bespoke investment strategies and reviewing portfolios regularly,” said the Hong Kong-based FinanceAsia during the recently concluded Country Awards for Achievement 2013 of FinanceAsia.

For its part, Alpha Southeast Asia, another Hong Kong-based financial publication, has recognized BDO Private Bank as the Best Private Wealth Management Bank in the Philippines at the 7th Annual Best Financial Institution Awards.

BDO Private Bank provides investment, financial and estate advisory services to a niche market of high net worth individuals as well as corporate and institutional clients.

As of end-May, BDO Private Bank said its assets under management (AUMs) reached $5.1 billion (roughly P219 billion) as its client base grew to 6,370 from 5,800 in March 2012.

Average client portfolio also grew 8.5 percent to P38 million.

FinanceAsia said the wealth management bank of the SM Group had long term relationships with the country’s successful entrepreneurs and influential families.

“The cornerstone of its service offering is to preserve the wealth of future generations by establishing and managing trusts, helping with estate planning and advising on life insurance,” FinanceAsia said.

A major advantage of BDO Private Bank is the assistance and support of the SM Group and other affiliates.

The wealth management bank offers peso and foreign currency settlement accounts, multi-currency deposits and fixed-income securities and derivatives.

It excels in family office series, offering investment and asset management, family office administration, and corporate governance and reporting.