EastWest expands wealth management business

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June 7, 2026 | 12:00am

MANILA, Philippines — East West Banking Corp. is expanding its wealth management business after assets under management in its priority banking segment reached P120 billion last year, as affluent clients seek more investment options amid market uncertainty.

EastWest head of financial markets and wealth management Rafael Algarra Jr. said the bank expects to sustain the growth of its priority banking business despite the challenging environment.

“We expect to continue the growth that we’ve been having in the previous years,” Algarra said during a media roundtable following the relaunch of EastWest Priority Banking.

“Despite the challenges we have this year because of all the uncertainty, we believe that the system, the structure we put together and the roadmap that we have will be resilient against the current environment,” he said.

Algarra said the segment’s assets under management reached P120 billion last year.

EastWest CEO Jerry Ngo said AUM growth stood at 40 percent year-on-year.

Ngo said EastWest Priority Banking now serves more than 10,000 clients nationwide, up from about 2,000 when the business was transferred to EastWest from Standard Chartered Bank in 2015.

The bank also plans to grow its dedicated Priority Banking centers to 20 from the current 13 nationwide, as it deepens its wealth management business.

EastWest recently launched an enhanced Priority Banking experience, offering high-net-worth clients access to bonds, unit investment trust funds, equities, specialized investment options, gold-related investments, insurance and portfolio allocation guidance.

“EastWest Priority Banking is being enhanced with a clearer purpose: to give our clients a more personal, more insightful and more complete banking relationship, one where we work alongside them every step of the way,” Ngo said.

Algarra said the bank is seeing stronger demand from clients for portfolio diversification as uncertainty prompts affluent Filipinos to look for ways to protect and grow their wealth.

Rather than simply offering products, the bank is focusing on helping clients build more resilient portfolios.

He said EastWest is giving clients more options for hedging, including structured notes, index-linked instruments and insurance coverage.

EastWest’s relaunched priority banking platform also includes partnerships with Visa, Henley & Partners, Acumen Strategy Consultants and BlackRock.

Through EastWest Visa Infinite debit and credit card products, clients can access local and international teller machine services, travel insurance coverage, Priority Pass access, rewards, welcome gifts and a 24/7 digital lifestyle assistant.

Jeffrey Navarro, country manager for Visa Philippines, said affluent clients are increasingly mobile and are looking for seamless payment experiences as they travel, dine and pursue lifestyle experiences abroad.

“If you look at the priority customers, generally they are globally mobile,” Navarro said. “They want to experience the best within a culture or a country. Be it dining, be it entertainment, well-being, arts and travel. And that’s where payment happens.”

Meanwhile, Henley & Partners is supporting clients seeking global education, residency and mobility options, while Acumen helps family-owned businesses with organizational transformation and succession planning.

EastWest is the banking arm of Filinvest Development Corp., with businesses in consumer banking, corporate banking, wealth management and other financial services.