Standard Chartered, others partner on private banking academy

Standard Chartered Private Bank has partnered with Fitch Learning, a pre-eminent training and professional development firm, and INSEAD, a leading business school, to create a training programme for its global front-line staff that will enable them deliver a higher level of service and advice to private banking clients.

Based on its extensive experience, Fitch Learning has designed a customised programme to build the sales skills and product knowledge of the Private Bank’s front-line through a blend of classroom and online training.

The programme is mandatory for all front-line employees, across the bank’s private banking booking centres in Singapore, India, Hong Kong, London and the UAE, and will include a rigorous assessment process that leads to certification.

Head, Global South Asian Community, Europe, Middle East and Africa and Private Bank Head UAE, Standard Chartered Bank, Naushid Mithani, said the academy will deliver a forward-thinking curriculum that will equip people to offer excellent service and relevant wealth management advice to clients in an ever-changing market environment, stating that it is a core part of the bank’s commitment to develop all its employees with optimism to set a new industry benchmark.

Chief Executive Officer of Fitch Learning, Andreas Karaiskos, noted that the initiative will provide world-class, dynamic learning modules to support the bank’s ambition and expansion in private banking and wealth management.

“Our investment over the years in our wealth management platform and expertise in developing technical and advisory skills will be fully deployed to support Standard Chartered in achieving their strategic goals”, Karaiskos said.

In his remarks, Rothschild Professor of Banking and Professor of Finance at INSEAD, Massimo Massa, said in the fast-changing world of finance, new sources of competition have emerged and new opportunities are opening up. The role of a relationship manager is evolving into that of a trusted advisor who provides solutions, and this requires a refreshed set of skills, expertise and understanding of the client. Ensuring this successful transition will become a real differentiator for private banks.