The global wealth management landscape is undergoing a transformative shift, with the UAE emerging as a key destination for high-net-worth individuals (HNWIs). In 2024, the country attracted over 6,700 millionaires, according to the Henley & Partners Wealth Report, surpassing every other nation in net inflows. This influx reflects a broader trend of affluent individuals relocating to the UAE, drawn by its investor-friendly policies, strategic location and reputation as a financial hub connecting Asia, Europe and Africa.
The country’s growing appeal among HNWIs, particularly from India and China, is transforming its wealth management sector. Many of these globally mobile individuals are looking for more than traditional investment products. Wealth preservation, intergenerational planning and access to international financial solutions have become priorities. To meet this demand, financial institutions are adapting by offering more bespoke services tailored to the complex financial needs of this diverse group.
In this context, Standard Chartered has launched in the UAE its first ‘Priority Private’ centre in the Middle East, Africa and Pakistan, which is dedicated to providing bespoke wealth management solutions for HNWIs. The centre, which is part of the Priority Private offering, aims to provide tailored wealth management solutions for globally mobile HNWIs, helping them manage and grow their assets across international markets. “The ‘Priority Private’ centre addresses these needs by offering a unique blend of global expertise and local understanding, ensuring that clients receive personalised services aligned with their dynamic lifestyles,” said Rola Abu Manneh, CEO, Standard Chartered, UAE, Middle East and Pakistan.
The centre’s launch is part of the bank’s broader strategy to expand its Wealth and Affluent business, with a focus on serving internationally connected clients. Located in Dubai, the centre benefits from the city’s position as a global wealth hub, offering clients access to Standard Chartered’s extensive network across Asia, Africa, Europe and the Americas.
When asked why Dubai was chosen for this initiative, Rola explained that the emirate’s reputation as a wealth management hub is unmatched in the region. And she is right. The city is home to over 67,900 millionaires, 206 centi-millionaire and 15 billionaires, according to Henley & Partners Wealth Report 2023. It has also become a magnet for affluent and HNW individuals worldwide, driven by its investor-friendly policies, excellent infrastructure and strategic location connecting Asia, Europe and Africa.
“For Standard Chartered, Dubai aligns perfectly with our strategy of leveraging global hubs to serve internationally minded clients. Its dynamic business environment provides the ideal platform for catering to affluent and HNW clients seeking both regional and global investment opportunities,” stated Rola. “By establishing the ‘Priority Private’ centre in Dubai, we are positioning ourselves at the heart of one of the world’s fastest-growing wealth markets.”
Priority Private centre
The newly launched Priority Private centre is designed to serve a diverse group of HNWIs and affluent clients, including Global Indians, Global Chinese and internationally mobile HNWIs. The focus is on individuals with sophisticated cross-border financial requirements.
“For Global Indians, who represent a significant portion of this client base, their wealth creation and management needs are often tied to both their countries of residence and India,” explained Rola. “The Indian diaspora is widely recognised as one of the wealthiest globally, with high concentrations in markets like the UAE and Singapore. The addressable market pool in these two countries alone is over $380 billion, reflecting their growing affluence and financial activity.
“Similarly, global Chinese clients represent a robust segment, particularly with increasing wealth among expatriate communities across Asia, the Middle East and beyond,” she added. “Both groups typically require multi-jurisdictional solutions that address investments, estate planning and wealth transfer in their home and host countries.”
What distinguishes these clients, according to Rola, is their need for seamless, cross-border wealth management solutions. Unlike domestic clients, international offshore clients often prioritise multi-market access, investment diversification and solutions aligned with their global lifestyles. These individuals also seek advisory services tailored to complex, cross-border family structures.
“A key strength of our offering is our diverse team of INSEAD-certified Relationship Managers and wealth specialists, who bring deep expertise in navigating cultural nuances. This allows us to provide highly personalised services that align with the unique investment preferences and financial priorities of Affluent and HNW clients from different backgrounds. By fostering inclusivity and cultural understanding, we strengthen client relationships, building trust and long-term loyalty across our international network,” said Rola.
She added: “Through our global network spanning key wealth hubs like Singapore, Hong Kong, Jersey and the UAE, we aim to provide unparalleled access to global investment opportunities and lending facilities, enabling these clients to grow and preserve their wealth across markets.”
The Priority Private centre leverages the bank’s advanced digital capabilities to simplify complex wealth processes, enhance client experience and provide real-time access to international markets.
“Our proprietary wealth management platforms provide clients with real-time access to their portfolios across multiple jurisdictions, enabling them to monitor investments, receive tailored insights and make informed decisions at any time,” stated Rola. “These platforms offer advanced data-driven analytics, which empower our relationship managers to deliver customised advice aligned with individual goals.”
She reiterated that the bank is continuously enhancing its cross-border capabilities through technology. “We streamline international transactions, investment processes and lending facilities, ensuring that clients enjoy secure and efficient services,” Rola explained. “Collaboration across our global network spanning wealth hubs in the UAE, Singapore, Hong Kong, Jersey and India allows us to deliver opportunities and solutions at a global scale, seamlessly connecting clients to key financial markets.”
For Standard Chartered, fintech collaborations play a critical role in its strategy. Speaking about leveraging from other verticals, Rola said: “We actively explore partnerships through SC Ventures, Standard Chartered’s global FinTech and ventures investment arm, to offer tools like secure, real-time cross-border payment solutions and sophisticated portfolio management systems. These innovations ensure that our clients can navigate the complexities of global financial markets with ease.”
Navigating geopolitical complexities
Standard Chartered’s extensive global network and on-ground experience position it to navigate the complexities of offering multi-market lending and international investment opportunities. The bank operates across 52 markets globally and ensures its offerings align with local regulatory frameworks while maintaining a seamless cross-border experience for its clients.
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“Our in-depth understanding of regulatory environment allows us to anticipate challenges and proactively address them,” stated Rola. “Each wealth hub within our network is equipped with expert teams familiar with local laws, licensing requirements and financial regulations, enabling us to tailor lending and investment solutions to each jurisdiction. This ensures compliance while safeguarding client interests.”
She emphasised that Standard Chartered actively monitors risks through specialised risk management teams. By analysing macroeconomic and geopolitical trends, the bank helps clients make informed investment decisions and mitigate exposure to volatile markets.
“Through this holistic approach, supported by cutting-edge technology, Standard Chartered simplifies global wealth management for affluent and HNW clients, enabling them to grow their wealth across multiple jurisdictions while addressing the complexities inherent to cross-border financial activities,” explained Rola.
Succession planning
Wealth transfer and succession planning are critical priorities for affluent and HNWIs, particularly those managing complex, cross-border family structures. Standard Chartered’s Priority Private proposition looks to differentiate itself by working closely with clients and partnering with the bank’s in-house wealth planning experts to develop tailored strategies that align with their personal values, financial goals and family dynamics.
“Our bespoke solutions focus on preserving and growing wealth for future generations while ensuring a seamless transfer of assets across jurisdictions,” explained Rola. “Through our global network and partnerships, we connect clients to a wide array of investment opportunities across the globe in addition to world-class expertise encompassing wealth management, legacy planning and wealth structuring, while maintaining compliance with varying local regulations.”
For globally mobile clients, this includes strategies that address dual-taxation concerns, multi-jurisdictional legal requirements and cultural nuances. Its relationship managers are also trained to understand these complexities and ensure that clients’ needs and requirements are met with discretion and precision.
“We work alongside leading experts to deliver comprehensive solutions that address our clients’ unique circumstances,” she said. “By leveraging our global presence and deep understanding of cross-border wealth management, we provide affluent and HNWIs with the tools they need to secure their legacy and financial future.”
Middle East and beyond
The Middle East is experiencing unprecedented wealth creation, driven by economic diversification, favourable government policies and a growing influx of affluent and HNWIs. According to Knight Frank’s Wealth Report, the number of HNWIs in the UAE increased by 62% over the past decade, with Dubai now ranking as one of the top global cities for wealthy individuals.
In this context, the Priority Private centre in Dubai positions Standard Chartered to capitalise on this growth by offering bespoke wealth management solutions tailored to the region’s affluent population. Dubai’s strategic location as a financial hub and its appeal as a global lifestyle destination make it a natural choice for serving regional and internationally connected clients.
“Through this centre, we aim to provide high-value services that address the region’s growing demand for sophisticated cross-border financial solutions,” explained Rola. “Our approach is anchored in leveraging Standard Chartered’s extensive international network, enabling clients to manage and grow their wealth across key global markets seamlessly.
“This proposition also aligns with our broader strategy of expanding our Wealth and Affluent business,” she added.
By focusing on client-centric services, such as multi-market lending, investment diversification and legacy planning, we aim to strengthen our position as a leading international wealth manager to support the region’s growing affluent and HNWI segment.
Rola Abu Manneh, CEO, Standard Chartered, UAE, Middle East and Pakistan
Rola reaffirmed that Standard Chartered is committed to introducing innovative products that cater to emerging wealth trends. These include sustainable investment solutions, reflecting growing client demand for ESG-focused portfolios. “By integrating environmental, social and governance factors into our wealth offerings, we provide clients with opportunities to invest in initiatives that contribute to their environmental and social goals, while generating financial returns,” she noted. “By aligning wealth management services with sustainability, we help clients align their impact goals while preserving and growing their wealth.”
As the wealth management landscape evolves, financial institutions in the region are prioritising services such as family office solutions, sustainable investments and legacy planning. With more HNWIs prioritising tailored solutions, Standard Chartered’s ‘Priority Private’ proposition is positioned to capitalise on the growing demand and cater to clients seeking stability, growth and cross-border financial flexibility.
