Malaysia’s Maybank has partnered with the Wealth Management Institute (WMI) of Nanyang Technological University Singapore (NTU Singapore) to set up a wealth management academy.

The establishment of the Maybank Wealth Management Academy (WMA), considered to be the first of its kind by a bank in Malaysia, will enable the bank to develop the skill set of its personnel.

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The institute will provide a practice-based curriculum to the sales staff, wealth specialists and managers across the bank’s private, premier and privilege wealth client segments.

The training services will be provided to Maybank employees in Malaysia, Singapore, Indonesia, Philippines, Hong Kong, Cambodia, Brunei and London.

Maybank head of group wealth management and community financial services in Singapore Alvin Lee said: “In the wealth management sector, the Asia-Pacific region is expected to continue its growth trajectory in the foreseeable future.

“It is expected to surpass $40 trillion in assets under management by 2025. With opportunities abound in the region, wealth management business is expected to accelerate, and talent and expertise are critical elements to the success.

“We want to be a key partner in our clients’ wealth management journey and ensure we have in place a strong focus on competency and continued education for our wealth managers so that they can develop the requisite mastery in wealth and asset management that will be relevant to our clients.”

The new centre will offer three courses, including WMI’s Private Banking Wealth Management Programme (PBWM) accredited at Institute of Banking and Finance (IBF) Level 1 Private Banking, a tailored course of PBWM, and an in-depth Investment Advisory programme accredited at IBF Level 2/3 Private Banking.

In the first phase, more than 150 employees from various business segments have enrolled in the inaugural course to be held in Malaysia and Singapore.