European bank established in 1974 and providing asset management services to individuals and transaction banking services to businesses with a focus on Russian clients.
East-West United Bank (EWUB) is based in Luxembourg and serves both private and corporate clients. In private banking, it helps HNWI save and grow wealth by sound capital management. Services for corporate clients range from transactional banking to treasure and credit products that help clients in managing their day-to-day operations.
In 2020, EWUB continued implementing its business strategy approved in 2018 and focused on private banking and transactional banking activities. To support the strategy, a digital transformation plan was adopted, which enable the bank to launch new banking products in these two segments and improve the efficiency of business processes. EWUB upgraded the online bank with modern functionality for its clients' transactions and managing assets.
EWUB's key goal is to grow its business in private and corporate banking. The main tasks that help achieve this goal include:
growing the client base by increasing EWUB's brand awareness in target markets, expanding own sales force and the network of partners, including synergies with Sistema Group companies like MTS Bank and Sistema Capital;
improving the client experience through investments into digital channels and infrastructure;
expanding the product offering.
In 2021, in addition to portfolio management, custody and brokerage services, EWUB introduced a new product – Investment Advisory for private banking clients who prefer to make their own investment decisions but still appreciate value of professional recommendations, opinions and investment ideas. While using Investment Advisory service, clients retain direct control of their portfolios, benefit from a simple and transparent fee structure and have no obligations regarding the minimum amount or timing of investment. EWUB clients regularly receive personalized list of recommended investments in different asset classes to form a portfolio best suited to their needs, risk appetite and cash flow requirements. All recommendations are made considering medium to long-term perspective (recommended investment horizon 2+ years).