FirstBank Ghana has launched its Private Banking and Wealth Management service for high-net-worth individuals. This service is aimed at preserving and growing wealth amid economic uncertainties. Executives from Ghana, Nigeria, and the UK emphasized its importance during the launch event. The service is characterized by personalized financial solutions and advisory services, with a focus on intergenerational wealth management and accessible financial opportunities.
FirstBank Ghana has unveiled its Private Banking and Wealth Management service, specifically designed for high-net-worth individuals to preserve and enhance their financial assets. With a commitment to customer service, the bank aims to bolster its offerings within the Ghanaian market. This initiative is accompanied by financial advisory services that assist clients in navigating complex economic landscapes while optimizing their investment strategies.
The launch event, held on March 14, gathered executives from FirstBank’s operations across Ghana, Nigeria, and the United Kingdom. They underscored the relevance of this service in transforming Ghana’s financial environment. Victor Yaw Asante, Managing Director and CEO of FirstBank Ghana, noted the importance of tailoring financial solutions to meet the unique needs of affluent clients, particularly amid economic uncertainties such as inflation.
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.”
His assurance highlighted the bank’s focus on providing exemplary service instead of merely competing for market share. “We already have customers who require these specialized financial solutions… This introduction is a step towards ensuring they receive world-class wealth management services right here in Ghana,” he remarked.
The official launch of FirstBank’s Private Banking and Wealth Management service is anticipated later this year, further solidifying the bank’s position as a reliable partner in wealth creation and preservation. Mr. Idowu Adebayo Thompson, Group Executive for Private Banking and Wealth Management at FirstBank Nigeria, emphasized the critical nature of structured wealth management. He noted that 70% of wealth typically dissipates by the third generation, underscoring the need for effective planning to safeguard financial assets against inflation and currency fluctuations.
He added, “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. The democratisation of wealth means financial solutions should be accessible to more people, not just the ultra-rich.”
Mr. Olukorede Adenowo, Managing Director and CEO of FirstBank UK, underlined the significance of global banking in ensuring stable wealth. With 130 years of experience and operations in various global markets, FirstBank stands ready to assist clients in diversifying and securing their assets internationally. He concluded by mentioning the financial instruments available, including fixed-income products, equities, and worldwide mortgage solutions that protect client interests abroad.
In conclusion, FirstBank Ghana’s introduction of its Private Banking and Wealth Management service represents a significant advancement in catering to high-net-worth individuals. By providing tailored financial solutions and strategic advisory services, the bank aims to help clients navigate economic uncertainties and enhance wealth preservation. As the formal launch approaches, FirstBank is poised to reinforce its reputation as a trusted leader in wealth management within the Ghanaian financial landscape.
Original Source: www.graphic.com.gh
