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KB Financial Group eyes wealthy clients in South Korea

KB Financial Group has launched its new premium private banking and asset management brand to better cater to its wealthy clients in South Korea. The firm said that “KB Gold & Wise the First” plans to adopt a “Credit Suisse-like” model in which private bankers and asset managers from KB Kookmin Bank and KB Securities and experts from areas such as investment, tax, real estate, and trusts are brought together as a single team for their clients. KB is also set to open the nation’s largest private asset management and banking branch on 6 September in Seoul’s affluent neighbourhood of Apgujeong. The new brand will target clients with personal assets above KRW3bn (USD2.2m). KB’s new private banking services come 20 years after the firm’s first private banking brand KB Gold & Wise was established.

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