ANSA Merchant Bank’s (AMBL) Private Wealth Management team has been making waves in the local financial market, AMBL’s chairman Gregory Hill has stated.
Hill made the comment during AMBL’s 44th Annual Meeting Of Shareholders which was held virtually on Thursday.
“Our Private Wealth Management business is quietly growing admiration in the market and increasing inter-generational wealth for local families. This is our newest division which will further add to our diversification strategy,” Hill stated.
According to the AMBL website, the Wealth Management team has been serving high-net-worth and ultra-high-net-worth clients for over 40 years.
“We help our clients manage their investment portfolios; tax strategies; business ownership structures; family and generational considerations; and other specialised needs and wants,” the website added.
“As wealth portfolios evolve and grow through the passage of time, these relationships often deepen into financial life management,” it stated.
Clients of the Private Wealth Management team are said to benefit from a holistic approach to managing your wealth over the long term.
“We keep you updated regularly with quality insights about your portfolio without provoking ‘information fatigue’,” it stated.
AMBL produced a profit before tax of $146 million for 2021 which as a 14 per cent increase over the prior period.
Hill said that AMBL’s Treasury and Foreign Exchange trading business performed “quite well” continuously innovating to find creative structures to compete in a tightening market.
The Investment Banking arm produced another solid year of “innovative transactions in the domestic capital market,” Hill argued.
He said the Investment Services department produced an admirable performance during the year, allowing the Group to benefit from the rebound in both local and foreign markets.
M Musa Ibrahim the managing director of TATIL and TATIL Life said the insurance companies had an exceptional 2021 having posted its best results and delivering profit before tax of $240 million, up from $74 million in 2020.
A Norman Sabga, Ray Sumairsingh, Larry Howai, Timothy Hamel-Smith, Jeremy Matouk, Ian Wlech, David Dulal-Whiteway, Nigel Romano and Ibrahim were all re-elected to the AMBL board.