Opportunities for investors in volatile bear market: QFB CEO

In volatile bear market conditions, investment opportunities can surface at attractive valuations, offering options that investors can capitalise on and make sound returns during the recovery period, says Ziad Makkawi, QFB chief executive officer.
“The current macro-economic environment is challenging and investor confidence is low with lower than normal appetite for risk,” Makkawi said in an interview with Gulf Times in Doha.
In these challenging circumstances, with bearish approach to markets, the solution is not to pull out of the market and stop investing, rather high-net-worth individuals (HNWI) need now more than ever to be informed on how to preserve and grow their wealth.  
“That’s where our expertise comes in,” Makkawi said.  
“We work closely and alongside our clients to understand their needs, current and future investment goals and risk appetite. We then draw on our deep collective knowledge and expertise to develop holistic tailored wealth management solutions to help our clients in managing, growing and preserving their wealth,” he said.
He said a large pool of wealth was concentrated in the GCC region and the competition to tap into it is ever growing.  Product differentiation along with focusing on fulfilling clients’ investment goals is key to effectively tap into the wealth market.  As clients become more sophisticated and demanding, banks need to develop their core capabilities, innovate and create attractive offerings.  
Furthermore, in an age that is dominated by technology, banks will need to digitise their offerings so it is easily accessible to clients.
“At QFB, our aim is to capitalise on this growing wealth market by offering a unique business model that combines the best of a private bank with bespoke investment solutions.  What this means is that drawing on our market expertise and exercising discretion we are able to provide our clients with a 360 degree solution to their individual financial and business needs,” Makkawi said.
Asked whether QFB plans to offer new private banking services/products to the bank’s private, corporate and institutional clients, he said, “We have been very active over the past twelve months, rolling out several strategic initiatives to streamline our business, and expand our private banking and wealth product offering and investment solutions to our private, corporate and institutional clients.
“Our strategy revolves around fulfilling the needs of our private clients.  In our constant pursuit of excellence we will continue to innovate and offer bespoke tailored Shariah-compliant financial solutions to address the financial goals of HNWI complemented by an impressive level of personalised service. For our corporate and institutional clients we advise on lending, corporate finance solutions, managing treasury and risk exposure.”
Referring to the ‘Private Banking Lounge,’ which QFB opened in December, Makkawi said it marked a new era in the bank’s proud history. It is effectively the front of house of QFB’s private banking operations. The space has been “newly refurbished to the highest standards of design and finish, providing an ambience of exclusivity, comfort, quality and professionalism.”
“We look forward to welcoming, both existing and new customers, to our ‘Private Banking Lounge,’ where we will provide them with the privacy of a world-class banking operation dedicated to excellence and everything they need to manage their financial affairs,” the QFB chief executive officer said.
On QFB’s expansion plans, Makkawi said, “At the moment our intention is to develop our capabilities in Qatar as we believe there is a great potential for both private banking services and investments.  In the future and as the business grows we might consider opening representative office in other GCC countries.”