Joel Julien

joel.julien@guardian.co.tt

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.