Hana Bank has partnered with Banyan Tree Club & Spa Seoul to expand its wealth management offerings beyond financial services, targeting ultra-high-net-worth clients with exclusive lifestyle and family programs.
The bank signed a memorandum of understanding Monday with Able Hyundai Hotel & Resort, which operates Banyan Tree Seoul, to jointly develop services spanning dining, arts, culture and wellness.
The signing ceremony was attended by Hana Bank President Lee Ho-sung and Able Hyundai Hotel & Resort CEO Kim Byung-yoon.
Under the agreement, the two companies will combine Hana Bank's Family Office wealth management services with Banyan Tree Seoul's hospitality and wellness facilities to develop tailored programs for wealthy clients and their families.
The partnership will cover private seminars, networking events, joint content development and family-oriented activities. The companies also plan to expand services traditionally focused on individual clients to include spouses and other family members.
The move reflects a broader shift in private banking toward services that go beyond investment advice and asset management to address the lifestyle and intergenerational needs of wealthy families.
"Family offices for ultra-high-net-worth individuals are expanding beyond traditional financial services, such as portfolio consulting, into comprehensive solutions that address clients' lives and recommend tailored lifestyles," a Hana Bank official said.
A Banyan Tree Seoul official said the partnership would combine the companies' expertise and client networks to develop customized services.
Hana Bank has been expanding its offerings for wealthy families. Last year, it launched Family Office MBA, a seminar program covering financial and nonfinancial topics for the next generation of wealthy clients. The program has held seven sessions so far.
jyoungseon8@heraldcorp.com
