BOC launches wealth management center in Thailand

BANGKOK -- The Bank of China, one of the largest commercial banks based in China, introduced wealth management services to its customers in Thailand on Thursday, in a bid to tap more business opportunities in the country.

The newly-established "Prestigious Wealth Management Center", affiliated with the bank's Bangkok branch, is the third of its kind that BOC operates overseas, after London and Singapore, said Che Jun, general manager of the branch.

Highlighting its commitment to clients, the wealth management team signed up cooperation agreements at its launching ceremony with nine leading asset management companies, including Aberdeen, Tisco, SCB, which will serve as its dealers to provide subscription and redemption services.

The bank expects the transaction the unit would generate in 2012 to value at approximately 1.5 billion baht ($47.40 million).