Manulife and Standard Chartered Hong Kong Announce Distribution Partnership for Private Banking
HONG KONG, April 29, 2024 /PRNewswire/ -- Manulife Hong Kong and Macau ("Manulife") and Standard Chartered Bank (Hong Kong) Limited ("Standard Chartered Hong Kong") are pleased to announce the launch of 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.
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."
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, 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."
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 combing 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.
About Manulife Hong Kong
Manulife Hong Kong has been a trusted name for more than 125 years. Since our operations started in Asia in 1897, we have grown to become one of the top-tier providers of financial services, offering a diverse range of protection and wealth products and services to over 2.5 million customers in Hong Kong and Macau. We are committed to helping make decisions easier and lives better for our customers.
Manulife Hong Kong, through Manulife International Holdings Limited, owns Manulife (International) Limited, and Manulife Provident Funds Trust Company Limited.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our Global Wealth and Asset Management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2023, we had more than 38,000 employees, over 98,000 agents, and thousands of distribution partners, serving over 35 million customers. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges, and under '945' in Hong Kong.
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About Standard Chartered
We are a leading international banking group, with a presence in 53 of the world's most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.
Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.
The history of Standard Chartered in Hong Kong dates back to 1859. It is currently one of the Hong Kong SAR's three note-issuing banks. Standard Chartered incorporated its Hong Kong business on 1 July 2004, and now operates as a licensed bank in Hong Kong under the name of Standard Chartered Bank (Hong Kong) Limited, a wholly owned subsidiary of Standard Chartered PLC.
For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on X, LinkedIn, Instagram and Facebook.
SOURCE Manulife Hong Kong
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