Putting wealth managers through their paces
UOB Private Banking
What: Tied up with Singapore Management University (SMU) to introduce the SMU-UOB Advanced Diploma in Private Banking in 2007. It consists of five modules on areas such as the private banking landscape, and core and emerging asset classes, and is the first of its kind to be offered by a bank and local university. This is on top of other training and enrichment courses that UOB offers to cater to specific areas in private banking.
Why: 'The objective of this programme is to build expertise and sharpen the skills of our private bankers. Gaining knowledge is crucial but, more importantly, they must apply the knowledge gained, and this comes with constant learning and exposure on the job,' said Wilson Aw, head of private banking at UOB.
What: Launched the Relationship Management Programme in 2009 that focuses on helping relationship managers (RMs) to recognise the different needs of each customer, and the importance of building trust and confidence to enhance the banker-client relationship. All RMs at OCBC must also undergo annual re-certification courses to ensure that they are in tune with developments on the various financial products, services and internal processes.
Why: 'Events that have taken place in the last two years have irrevocably transformed the banking landscape, especially the way financial institutions market their products and services,' said OCBC's head of branch and premier banking Dennis Tan. 'Consumers' confidence in banks dropped significantly and banks have had to reassure their customers of the soundness and integrity of the banking system.'