Amid an economy that has yet to recover, the Wealth customer segment and their assets continue to grow steadily. Importantly, this represents a transition point where Gen 1 asset owners are preparing to hand over their businesses to Gen 2, their children or grandchildren. Banks acting as trusted advisors to wealthy families now need to adjust their strategies to reach this group.
Thakorn Piyapan, CEO of TMBThanachart Bank (ttb), said that among Private Banking clients with Assets Under Management (AUM) of 30 million baht or more, over 60-70% are Gen 1 family heads who built their businesses and are planning to pass on their wealth and enterprises to the second generation (Gen 2). Their main concern is how to sustain and grow what they have built, and they want their heirs to be ready to take over the wealth they created firsthand.
Therefore, amid economic volatility and a rapidly changing world, a major challenge for Gen 2 is how to manage and grow the family business and wealth. To address this pain point, ttb reserve developed the “Wealth Empowerment Program,” an 8-week course covering business management, leadership, as well as life, financial, and investment management.
“Each generation has different needs. We use this program as a bridge to connect with and understand new clients, helping them plan and manage their lives more easily,” Thakorn said.
In addition, with increasing competition in the Wealth business, banks must continuously develop diverse services that meet client needs—not just deposit interest or perks, but comprehensive service improvements. Previously, they launched unique products like the ttb wealth Infinite credit card, innovative insurance plans, and accelerated development of the Relationship Manager (RM) team to provide all-round service. They plan to add at least 30 more RMs by 2027, bringing the total to 90.
For 2026, the bank aims to grow its new Wealth client base to 11,000, including Private Banking and Wealth Banking clients (AUM 5-30 million baht). As for total AUM of ttb reserve, it is expected to exceed 770 billion baht by year-end, mostly from the current 5,600 Private Banking clients holding over 400 billion baht. Over the next 3-5 years, AUM is projected to grow at an average of 10% per year, with plans to increase mutual fund investments to 40% from the current 32%.
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