Win Phromphaet pushes Krungsri Exclusive to the top 3 in 5 years.
Win Phrom Phaet
Assistant Managing Director
High Networth Customer Line Executive
Bank of Ayudhya Public Company Limited
Investment Wealth Advisory Bank
Push Krungsri Exclusive to the top 3 in 5 years.
“Changing from taking the product as the base to focusing on the customer as the base to help find what the customer wants and is satisfied with. Make customers trust more Leading to the goals set for both AUM growth of 10% and the number of customers increasing 15% per year, which is believed to be achieved with the potential it has and will make Krungsri Exclusive a top 3 player in this business. within 5 years”
Even though the spread of COVID-19 It will affect wealth around the world, including Thailand. But the group of high-net-worth individuals in Thailand still has a lot of potential for growth. As can be seen from the competition among financial institutions, including commercial banks in the country. foreign banks or various investment businesses which has continuously shifted towards this group of customers in the past few years
Like Bank of Ayudhya Public Company Limited or "Krungsri" which has adjusted its business group to High Net Worth customers or groups of people with assets under service (AUM) of 5 million baht or more. Go to what is called "Krungsri Exclusive (Krungsri Exclusive)"
This important change of army, Krungsri has a new commander, Win Promphaet, who is well known as someone who has more than 19 years of experience in the financial and investment industry, to lead the game for Krungsri Exclusive. Seaf in position Assistant Managing Director High Networth Customer Line Executive Retail and personal customer business group Bank of Ayudhya Public Company Limited amidst the competitive field of the Wealth Management business is heating up.
Deflect from the manufacturer
To become a recommender
Win Phromphaet graduated with a bachelor's degree. Economics major (English Program) from Thammasat University and master's degree in Business Administration from Rotterdam School of Management, Erasmus University, Netherlands. Received a government scholarship (February). In addition, he received professional qualifications in securities analysis at an international level (Chartered Financial Analyst: CFA) and is on the list of those qualified to be a fund manager (Fund Manager License). )
Before Win stepped into work at Krungsri He has experience working in finance and fund management. He is an expert in portfolio management and investing abroad. Most recently he held the position of Chief Investment Officer. Principal Asset Management Company Limited is responsible for the management of domestic debt and equity funds. including investment strategies in foreign financial assets
In addition, he has experience in government service at the Social Security Office. By performing the duties of managing the Social Security Fund and holds the position of Head of the Investment Group and Deputy Spokesperson of the Social Security Office.
“I started working at Social Security and have been there for 13 and a half years. My job at that time was to manage the Social Security Fund, which is one of the largest funds in Thailand. When I started working, the fund size was 1 billion baht, and when I left social security, the fund value was 1.3 trillion baht. It is considered a time when I learned about investing that spreads all assets around the world. Has pioneered since investing in stocks for the first time and investing in real estate for the first time It is considered a place where you can learn a lot about investing.”
Win said that for working with Krungsri this time, the goal is to make Krungsri become an Investment Wealth Advisory Bank or a bank that customers think of when looking for investment advice. to create wealth
“I intend to use my investment experience accumulated over 19 years to take care of clients in the High Networth group. Even though I really like investment work. But by taking on this role, you will be able to expand your work beyond just investing. There is a matter of customer care. The role of providing investment advice is said to be changing from a producer perspective to an advice giver.”
Transfer experience
Strengthening the Krungsri team
Win also said that Krungsri is a financial institution that is a leader in many areas. Its first strength is branches. From the customer satisfaction survey results, it was found that customers are most satisfied with the services they receive at Krungsri branches. This will add a special channel and a special corner as a lounge especially for "Krungsri Exclusive" customers.
However, Krungsri Exclusive has previously started using the strategy of having a team of investment advisors work together with the client's RM (Relationship Manager) team. and during the COVID-19 outbreak This strategy adjustment This makes it possible to still take care of customers even though there will be less convenience from not being able to go to a branch. As customers increasingly turn to online channels In the past, there may have been obstacles in various channels. That has some impact on customer service, but after this When the event unfolds Will be able to take good care of it as before.
“The problem of High Networth customers is With the amount invested, it will have a high value. Customers may not be confident if they invest without receiving advice from the RM team or branch before making a decision. One of the intended goals is I will use my experience to strengthen and develop Krungsri's team even further. and have more skills in providing complex investment advice.”
The second strong point is The fact that Krungsri has a wide range of financial and investment products covers It has helped customers become aware of wealth management services through various products. with Krungsri What needs to be done is to expand from the fact that customers have Krungsri's financial products to investing more. At this point there is much more that can be done.
Mobilize a team of experts and partners
Pops up ONE Krungsri Investment View
Win said that over the past 2-3 years, Krungsri has adjusted the way of working from a Product Driven model to a Segment Driven model, or a customer-centered view. Total bank and Krungsri Group customers total more than 8 million people. When divided into groups, it is found that There are customers with assets with the bank of 5 million baht or more. There are 120,000 High Networth groups that need to be taken care of, divided into 70,000 groups that are under Krungsri Exclusive criteria. In total, there are assets under the management of the High Networth customer line. Approximately 800,000 million baht
With the duty to take care of the High Net Worth customer group Win must coordinate with all Sri Group teams. Whether it is a team that takes care of products, including funds, insurance, bonds, credit cards, personal loans, home loans, and coordinates with teams that take care of various channels, including mobile banking (KMA), websites, branch teams, and RM teams, or working in coordination. Both the product side and the channel side in order to be able to take care of this group of customers the best.
“Changing from taking the product as the base to focusing on the customer as the base to help find what the customer wants and is satisfied with. Make customers trust more Leading to the goals set for both AUM growth of 10% and the number of customers increasing 15% per year, which is believed to be achieved with the potential it has and will make Krungsri Exclusive a top 3 player in this business. within 5 years”
Win said that the strategy that will drive towards Investment Wealth Advisory Bank is a new approach. Previously, customers would just deposit their money with the bank. But recently I began to see that Customers are more interested in investing. And I think there are many more opportunities to expand investment opportunities for customers. Including expanding the investment team Add tools to make the team ready for investment
“Krungsri already uses the Open Architecture approach and has funds for customers to choose from among 10 mutual funds. Their duties from now on are: move on and select better products than before Expand investment types to more than before, such as direct investment abroad. Investing in real estate abroad Add derivative products or bonds, which are products that customers are interested in.”
In this regard, wealth management businesses will compete in various benefits. which Krungsri is ready to provide to customers But with the competition being quite high, Krungsri will give weight to strengthening the investment side in line with the goal of being an Investment Wealth Advisory Bank, which views that investments will go hand in hand with benefits. Taking care of customers is important. Investment advice is also very important.
Win said that with the potential and expertise Including deep knowledge and understanding of economics, finance, and investment from various parts of Krungsri, creating ONE Krungsri Investment View, which comes from the Krungsri research team. It consists of leading Thai economists specializing in macroeconomics. Overview of various industry groups Global Markets Team that has information and a deep understanding of currency movements exchange rate and bond market
There is also a team of investment strategy and portfolio management experts from the Krungsri Investment Intelligence Office (IIO), along with a team from Krungsri Asset Management (KSAM) and a team from Krungsri Securities (KSS). that Krungsri also has a partner with global perspective and expertise such as BlackRock, a leading global fund management company with the largest assets under management in the world. All will work closely together and have greater cooperation with each other. Especially in participating in situation analysis and knowledge creation.
“Interest in ESG investment trends is hot. Krungsri must prepare for the investment trend in this area. Krungsri is one of the organizations that attach great importance to ESG issues.”
As for investing in digital assets such as cryptocurrencies which is gaining a lot of attention right now, he said, with cryptocurrencies It is a currency different from other types of investment assets. Investing in crypto Therefore, it is a difficulty for regulatory agencies such as the Securities and Exchange Commission or SEC. Even the US SEC is not clear on whether investment in cryptocurrencies should be allowed. or not If we look back in the past, this would have happened when new assets were added, such as real estate or gold.
“Crypto is still just beginning. The US SEC has not yet officially approved it. If the US SEC is the first to pave the way, it may cause many other countries to follow. For example, if the US allows the setting up of ETFs that invest in crypto. In Thailand, you can set up a mutual fund that invests in ETFs that invest in crypto. For High Networth customers who are quite old, they may not feel comfortable investing on their own. The fund channel through ETFs is more suitable for this group of customers.”
Follow the People column in the Finance and Banking Journal. August 2564 issue, issue 472, on leading newsstands nationwide and in digital format: https://goo.gl/U6OnIi
