Private bank RMB expands to Hillcrest

2008-05-02 00:00

A growing acknowledgement that the greater KwaZulu-Natal Midlands and surrounding areas between Pietermaritzburg and Durban offer a somewhat untapped top-end market has led to RMB Private Bank’s decision to establish a new office at Hillcrest.

RMB Private Bank Divisional manager, Andrew Hudson, told The Witness that the move will grow the brand’s interest in areas outside the nodes of Durban and Umhlanga.

A minimum of 20 staff will be based at the new office, which is set to open on June 1 this year.

Hudson explained that their second office in KZN is aimed at growing brand awareness, while also ensuring that the high-end bank concentrates more efforts on the entrepreneurial market in these geographical locations.

Although he explained that it is difficult to pin down the catalyst of private banking growth, Hudson noted that the search for alternatives to the rising cost of debt coupled with referrals from other entrepreneurs and professionals could be two reasons for the growth experienced in high-end specialised banking.

“It’s about service, banking is about people and that personal touch, as well as efficiency,” Hudson said.

“It is built on relationships,” he added.

Buoyed by recent healthy levels of growth in the provincial economy as well as the spin-offs of major infrastructural projects undertaken in KZN, Hudson believes that the local economy will still produce entrepreneurs who will ultimately seek out the professional advice, products and services that only private banking can provide.

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