I&M Bank has unveiled its Wealth Management and Advisory Business, in a move expected to drive business growth through revenue diversification.
The service, targeting high net worth and premium customers and potential customers, will be offered through I&M Capital, a subsidiary of the I&M Group PLC, which is also the holding company of I&M Bank Ltd, and is a licensed fund manager by the Capital Markets Authority.
The offering comprising of Customised investment solutions, Asset Management, Retirement Income and Financial Planning seeks to help clients diversify their assets in order to balance their financial risks.
It entails a tailor-made investment strategy that comes with a wide range of products such as: fixed income securities, portfolio restructuring and optimisation, investment loans for Government Securities, insurance products, equities and offshore Investments offered in collaboration with Bank One Mauritius, a subsidiary of I&M Group PLC.
The personalised investment strategy will be developed through a consultative process with the client and the Bank’s Wealth Management Advisors, and will be tailored and scaled to clients’ risk tolerance, time horizon and unique investment needs.
Commenting on the development, Mr. Daniel Ndonye, Chairman, I&M Capital, noted, “We are proud to launch the Wealth Management and Advisory Services Business, that looks to help build, manage and protect our customers’ wealth. This new development affirms our commitment to be financial partners of growth for all our stakeholders and truly cements our position as a one-stop shop for all financial solutions.”
“The team at I&M Capital have a deep understanding of local and global markets and will recommend solutions most relevant to clients’ investment needs informed by fundamental research. They will provide insights that will help clients make the right investment decisions to protect and help their wealth grow.” he further noted.
In a move to establish a fully-fledged Wealth Management and Advisory Services Business, I&M Group PLC further appointed Mr. Silas Mutuku as the Chief Executive Officer, I&M Capital, subject to regulatory approval. Silas is a seasoned banker with 27 years’ experience in banking and joined I&M Bank in 2016.
The Wealth Management and Advisory Services Unit will work hand in hand with I&M Bank, Kenya, in facilitation of the different investment products. Speaking on the new development, I&M Bank, Kenya, CEO, Mr. Kihara Maina, noted, “The move to expand the Group’s investment products portfolio is most welcome and timely, as it aligns with the Bank’s new strategic direction of diversification into new market segments, as well as providing holistic financial solutions to our clients.”
“This development is expected to further enable the growth of a deeply customer-focused organization responsive to the changing dynamics in the financial sector, positioning I&M Bank a versatile and progressive financial institution.” he reiterated.
I&M Bank Limited has over the years provided Investment and Custodial Services and the Wealth Management and Advisory Services Business will complement this offering.