PWM/ The Banker: MCB Private Banking elected ‘Best Private Bank in Mauritius 2014’
These results are attributed to the introduction of new services such as Portfolio Management and Financial Planning, acquiring of new customers, the all-out improvement of the service as well as partnerships with external asset managers such as ‘Société Générale’, Morgan Stanley, Carlyle Group and Kotak Mahindra. (Image: proudlyafrican.info)
Mauritius Commercial Bank (MCB) Private Banking was awarded the title of ‘Best Private Bank in Mauritius 2014’ by PWM/ The Banker during the Private Banking Awards, which took place on Wednesday October29, 2014 at the Grand Hotel Kempinski in Geneva.
This award rewards MCB Private Banking for its excellent performance realized during the last three years, where during this period, the assets under management had known a growth of 250 % to reach Rs 22.2 billion in June 2013.
These results are attributed to the introduction of new services such as Portfolio Management and Financial Planning, acquiring of new customers, the all-out improvement of the service as well as partnerships with external asset managers such as ‘Société Générale’, Morgan Stanley, Carlyle Group and Kotak Mahindra.
The distinction of ‘Best Private Bank’ was granted at the end of a four month meticulous work performed by a team of PWM / The Banker which has made exhaustive researches on the private banks.
In parallel, these banks had to answer to a questionnaire regarding to their Key Performance Indicators, Portfolio management, growth strategies and ethics among others.
Furthermore, Scorpio Partnership, consultants in the private asset management, made a quantitative analysis of banks which were nominated.
Finally, everything was submitted to an independent jury who took an entire month to deliberate.
In the end, the determining element was the service provided, which was the key asset of MCB Private Banking.
This distinction of PWM / The Banker came as a real motivator in the new development phase of the MCB Private Banking.
“The Mauritian market being limited, it is logical to turn to Africa. It is primordial for us to understand the needs of this market based on the advantages of the Mauritian jurisdiction to attract the wealthy customers of the continent,” said the Head of MCB Private Banking, Didier Merle.
He concluded that it will be necessary at the same time to restrain the existing talents and to attract new ones, while investing in the technology so as to continue in offering a service that will make the difference.