BPI Asset Management Renamed BPI Wealth

Bank of the Philippine Islands' (BPI) wealth management unit will now be known as BPI Wealth.

Photo Insert: BPI said the move aimed to better connect with various client segments and further communicate the company's expertise as a leader in the asset and wealth management space.

BPI said the move aimed to better connect with various client segments and further communicate the company's expertise as a leader in the asset and wealth management space.

"BPI Wealth's bold new identity and positioning is anchored in its strengths — robust investment process, unparalleled risk management framework, best-in-class investment professionals and wealth advisors, and a wide range of innovative investment solutions," the bank said.

Despite the name change, the bank renewed its commitment to delivering superior customer experience for its individual, corporate, and institutional clients.

"At BPI Wealth, we will continue to be your trusted partner in navigating volatile financial markets in guiding investment decisions, in constructing portfolios, and in creating a legacy for future generations. We will continue to offer the best-in-class asset and wealth management solutions to enable you to live your best life," Maria Theresa Marcial, president and chief executive officer of BPI Wealth, said.

BPI Wealth also unveiled a new campaign, #liveyourbestlife, which echoes its commitment to empower customers to fulfill their highest aspirations.

As for personal remittances, land-based workers transferred $2.73 billion in December versus $2.58 billion same time in 2021, while sea-based workers remitted $700 million from $670 million in the previous year.

The BSP said the higher cash remittances from major country sources such as the US, Saudi Arabia, Singapore, Qatar, and the United Kingdom “contributed largely” to the end-2022 total remittances.

The US continued to post the highest share of overall remittances in 2022, followed by Singapore and Saudi Arabia. The US will naturally emerge as a top remittances source because remittance centers course these cash transfers through correspondent banks based in the US.

Last year, 41.2% of total remittances came from the US, while seven percent were from Singapore and six percent from Saudi Arabia. Japan, the United Kingdom and United Arab Emirates contributed 5.1%, 4.7%, and 4.2% of total remittances, respectively.

"We recognize that our clients want a name they can trust to address their complex financial needs. They want a name they can trust, so they worry less about their investments, so they can do and live more. That is our brand promise," Marcial added.

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