Hong Kong: Manulife and Standard Chartered announce bancassurance partnership for private banking

| 30 Apr 2024

Manulife Hong Kong and Macau (Manulife) and Standard Chartered Bank (Hong Kong) Limited (Standard Chartered Hong Kong) have launched a distribution partnership. With immediate effect, Manulife is offering Standard Chartered Hong Kong's private banking clients a diverse range of solutions encompassing savings, protection, wealth accumulation, and legacy planning so as to cater to the unique financial needs of clients at different stages of life, empowering them to make the most of their wealth to achieve their financial goals.

Mr Patrick Graham, Chief Executive Officer of Manulife Hong Kong and Macau, said, "This strategic partnership with Standard Chartered Hong Kong marks a significant milestone for us, enabling us to deliver tailored savings and protection solutions to the bank's private banking clientele. This alliance is a testament to our commitment to helping high-net-worth clients maximize their wealth, and we are excited about the exceptional customer experience we will jointly deliver." 

Mr Peter Tung, Regional Head, Private Banking, Greater China & North Asia, Standard Chartered, said, "The collaboration is a great example of how our robust relationship with our business partners, and our unique distribution network, enable us to support our clients' wealth and legacy planning. We will continue to enhance our Private Banking services, so as to help our clients achieve sustainable wealth appreciation in the evolving investment environment and to create and manage wealth together."

In highlighting the benefits of this partnership, Mr Ivan Chan, Chief Distribution Officer of Manulife Hong Kong and Macau, stated, "We are delighted to partner with Standard Chartered Hong Kong to expand our distribution networks and bring our comprehensive suite of financial solutions to their private banking clients in Hong Kong. This strategic collaboration will enable us to further strengthen our position as a leading provider of savings and protection solutions in the city." 

Mr Alson Ho, Head of Wealth Solutions, Hong Kong, Standard Chartered, said, "This bancassurance partnership will further deepen our collaboration with our long-term partner Manulife and achieve greater synergy by combining the strengths from both firms. Standard Chartered Hong Kong's investment platform already offers a wide suite of diversified products for our private banking clients. Through introducing Manulife's sophisticated offerings, we are well positioned to provide our clients with bespoke asset management and wealth planning solutions." 

The long-term relations between Manulife and Standard Chartered Hong Kong started in 2016 when the two firms established a 15-year exclusive pension distribution partnership. The partnership has combined their strengths in distribution reach, product offerings, investment expertise and technology platforms. The new collaboration will further strengthen the relationship between the two firms and provide financial protection for more clients from different segments.