3 minute read
NPB (Middle East) Ltd
Amritaanshu Agrawal, Senior Executive Officer, NPB (Middle East) Ltd, talks to WealthBriefing Group Editor Tom Burroughes.
Where in the world do you operate – are you mainly a domestic player or international?
Founded in 2021 NPB (Middle East) Ltd. (NPB ME) is part of Neue Privat Bank AG, a Swiss full Service regulated private bank and a member of the Swiss Bankers Association. The office in the Abu Dhabi Global Market is the group’s first international location.
What have been the main obstacles you had to overcome and how did you do so to reach this level?
As a new entrant into the UAE and the Middle East region, we have had to spend a lot of time and effort familiarising prospective clients about our group and value proposition.
We have benefited from having an exceptionally strong and experienced team leading the efforts, with existing deep longstanding client relationships.
Furthermore, there is an increasing awareness among local HNW individuals of the benefits that inherent in working with boutique wealth advisors; in terms of quality of advice and services, as well as the speed and flexibility of the decision making.
Please explain what you think makes your firm successful in its chosen field.
NPB ME’s founding mission is to bring together the best of two worlds: the independence and trust inherent in a local financial advisory company and the strength and stability of a Swiss regulated financial group.
In terms of our value proposition, we offer local clients access to traditional high-end boutique private banking services, meaning that they are tailored to meet the complex needs and expectations of the region’s high net worth individuals, backed by an individual financial planning approach.
As a group we do consciously do not use any own products when advising clients. This is because our goal is to act as the trusted advisor to our clients and we want to ensure that our client advisors are free to select the best products in the market, without bias or potential conflicts of interest.
How do awards such as this make a difference to your firm and your colleagues?
This award is particularly gratifying to receive as it is awarded by an independent panel of internationally renowned industry peers. Over the past twelve months, since launch, we have worked hard to establish NPB’s presence in the Middle East. This award represents a timely recognition of our team’s efforts and achievements.
What does success look like to you - can this be measured in hard numbers, or in qualitative ways, or both?
Although financial metrics are important in a self-evident way, to us success is viewed solely through a qualitative lens in terms of how satisfied clients are with our services. Therefore, we consciously do not set top-down financial targets for our advisors, as such targets would risk taking precedence over clients’ needs.
We have a very simple mandate for all our employees: do what is right for the client. We know that if we do this in the short-term, our business will thrive in the long-term.
Whom do you look to in terms or ideas and inspiration? What other business sectors do you follow for ideas?
We are constantly on the lookout for best practices that we can adopt to improve the value that we bring our clients. Although our number one priority will always be to provide the best wealth and investment advice that we possibly can, as a service business looking after HNWIs, we also lean towards the hospitality and luxury industries for ideas.
Another source of inspiration is the technology sector. Amazon is a perfect example of the power of managing a business for the long-term, at the same time as having a relentless focus on improving the value that you bring to your clients. Borrowing from Amazon’s playbook, we strive to be the most customer centric wealth advisor in the market.
Amritaanshu Agrawal
Senior Executive Officer, NPB (Middle East) Ltd
MOST PROMISING NEW PRIVATE BANK PROPOSITION
WINNER NPB (Middle East) Ltd
