THE Bank of San Francisco has taken on a new name and business strategy in a restructuring programme that will open the way for it to add wealthy Asians to its existing clientele.
Under its new name, The San Francisco Company, the bank will continue to provide private banking and investment services to the well-heeled individuals on the United States' west coast who it has been serving for 13 years.
But, as a result of the overhaul, the bank's operations have been expanded to encompass the Asian region.
Its new market direction will be based on servicing the banking demands that have developed as a result of the rapid growth in economic ties between Asia and the US.
''The flow of capital between Asia and the US is increasing fast and we aim to provide Asian clients with investment and banking services in the US,'' said San Francisco Company chairman Kent Price.
As part of a reciprocal banking network, the company will also provide US clients with access to a wide range of investment opportunities around Asia.
Working with three main business lines, private and business banking, capital management and trust services, the company plans to fill the gap in existing banking connections between Asia and the US that is currently being serviced by only the Bank of America.
