To help its High Net Worth (HNW) customers protect their wealth, and for a successful transition of wealth to their next generation, Pan African Bank, Ecobank, has strengthened its partnership with Nedbank, a South African bank, by bringing them onboard in their customers’ wealth management.The partnership is said to give HNW customers of the bank access to seamless international product and services that they need to better protect their wealth
Commenting on this at a breakfast meeting held in Lagos recently, the Group Head Securities, Wealth and Assets Management, Ecobank, Paul Harry, said Ecobank’s partnership with Nedbank will help maintain the lifestyle that customers want, and the financial independence they seek.He said: “Once you are wealthy, people believe you don’t have issues anymore. But the fact remains that when you are wealthy, you are far from being a carefree person, and the key issues will become how to maintain your lifestyle and to get to a higher financial independence.
“We are committed to helping our clients fill that Gap and we have made it our duty across Africa to make sure that we deliver those kinds of solution to all our customers.“Our partnership with NedBank is to make sure that our clients have all the international products that they desire in protecting their wealth and we have put together a platform for them with different products with the objective of making sure that they can pass wealth from generation to generation,” Harry explained.
The Head, Securities, Wealth and Assets Management, Ecobank Nigeria, Ibukun Oyedeji, also said the bank is very committed to helping its customers to maximise their wealth.Oyedeji noted that about 12,000 HNW individuals in Africa are from Nigeria, which is second to South Africa, adding that Nigerians are good at making money and creating wealth, but lacked the ability to sustain the wealth and pass it to the next generation.She said EcoBank’s goal is to help its customers to plan their future and their wealth, saying: “As a bank, we think of how we can guide our premium customers to make sure that the wealth that they have created, actually adds value to them, and goes to their next generation and their children’s generation.
“We believe that offshore investment and partnership will help in making this a reality, which is one of the reasons we have partnered with Nedbank because Nedbank brings in that offshore balance into your wealth portfolio.
“Investing funds in one currency is risky, so Nedbank’s partnership gives access to large pool of funds globally so that one can spread his or her investments all over the world in different currencies,” Oyedeji added.Also commenting, the General Manager, Financial Planning, Nedbank, Lloyd Buthelezi, said the partnership between Nedbank and Ecobank will take the premier customers of the bank to their next level.
“We are confident to say that our cooperate clients in South Africa who aspire to grow into the different jurisdiction in the continent are interested to take Ecobank along and we had put together a proposition that worked for people as our brand operates in a different jurisdiction,” Buthelezi said.“We offer a platform, which caters for HNW individual’s banking needs internationally with 15 different major currencies globally, and brings to the clients all the benefits that come with being high HNW individuals, which include investment solutions,” he added.