Societe Generale Private Banking Hambros is building a new electronic platform to target the ‘mass affluent’, as it expands its offering.
The UK private bank is targeting those in the £500,000 – £1million wealth bracket, whom it calls the ‘privileged segment’ and is building a new electronic platform as part of ‘Project Linkup’, according to Christophe Billard, group commercial director at SGPB Hambros.
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The online platform will offer investment solutions and electronic banking services, which Billard described as ‘more simplified, less bespoke.’ The first part of Project Linkup is expected to be completed at the end of this year, while the remaining two parts are expected to be finished in 2015 and 2016, respectively.
SGPB Hambros is working on a five-year plan to upgrade its core business systems and online risk control tools for its front and back offices, and is also on a recruitment drive. The bank recently hired 16 new client relationship managers, with a further 12 managers and five investment and support staff to be hired this year.
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