KB to offer integrated wealth management service

 Korea’s major lender Kookmin Bank said it will team up with KB Securities to offer integrated wealth management services from February.

KB Financial Group has set up a new advisory group for wealth management service by pulling experts from investment products and service divisions under the bank and the brokerage, respectively, the bank said.

The advisory group consists of 24 experts including an investment strategist, a portfolio diversification expert, a real estate professional, an accountant, a tax accountant and a lawyer. They will share one office in SIMPAC building in Yeouido where head offices of Kookmin Bank and KB Securities are near.

The bank’s move is part of KB Financial Chairman Yoon Jong-kyoo’s drive this year to integrate banking and brokerage after KB Financial acquired Hyundai Securities last year.

In January, the group combined the bank’s wealth management division and that of the brokerage and relocated the team to a new office in SIMPAC building.

To enhance wealth management services, the bank will also open two centers in Seoul to provide advisory service for real estate investment.

The bank’s recently-developed commercial real estate information system at the upcoming centers will be able to offer analysis on the 1,200 commercial areas’ trends, floating population and deal examples to those who invest in commercial buildings, the bank said.

(yoonmi@heraldcorp.com)