It is no secret that private wealth in Malta has soared over the past decade. Whether it has soared in a sustainable manner is a topic for another time – the fact remains that the balance sheet of many households has grown substantially in a relatively short period of time.
When this happens – when a country transitions, within less than a generation, from a relatively middle-income economy to one with a substantial number of household millionaires – what usually follows is the problem of managing this wealth.
The problem is not a direct result of the size of the wealth but a function of the changes in lifestyle, exposure and a number of other aspects which come into play as a result of that wealth. The level of complexity in managing such wealth prudently increases way faster than the quantum of time and expertise that an individual or household have to manage it.
That is usually the point when individuals start realising that the investment set-up they had used up until that point is no longer fit for purpose. And it is usually at that point in their life that the services of Private Banking come into play – when the requirements are no longer just about investment returns but also about liquidity management, succession planning, banking solutions and many other ancillary services which are provided by a reputable, financially robust and professional institution. An institution where governance is not just seen as a regulatory requirement but a prerequisite to ensure longevity behind each relationship established with the Bank.
This is where Sparkasse Bank Malta plc comes into play. The Bank has been operating in Malta for over 25 years and has long established itself as one of the leaders as a custodian of wealth and financial assets on the island. Private Banking is one of the Bank’s core service-offering where customers can choose to use the Bank’s wealth management expertise in a way that suits them best.
The main objectives of the Private Banking team are very simple, being customer-experience centric and consistently delivering the expertise needed to achieve the customers’ investment objectives and financial needs.
High net worth individuals and institutional investors, such as family offices, typically use Private Banking services and not standard retail banking because the offering is fundamentally different. The former offers investment management (via investment advisory or portfolio management), custody, liquidity lines, treasury management and lombard lending via one relationship, and that is exactly what Sparkasse Bank Malta plc has been offering to its customers.
The Bank is also committed to being future proof by constantly investing in systems that will allow it to operate efficiently and effectively. Banking systems, portfolio management systems and a number of other operational systems which are interconnected, allowing Private Banking to view each customer’s wealth holistically – investment portfolio, liquidity management accounts, custody of other non-advisory assets and credit facilities – hence allowing a client manager to provide a bespoke service to each customer individually.
Such systems allow the Bank to manage the financial and investment complexity of a family’s wealth in a timely and appropriate manner. This is precisely what our customers want and have come to expect because they have realised that preserving wealth is harder than creating it.
Sparkasse Bank Malta plc’s unique proposition is the ability to offer a one-stop-shop solution in terms of Banking, Custody and Investment Services. We believe that Malta’s financial services industry has an exciting journey ahead of it which the Bank is both keen and able to support. Whether this is in the digital assets space, family offices or occupational pension schemes, the Bank has the technical setup and expertise to assist you charter and navigate your voyage.
