Switzerland’s BSI Bank has been granted a
banking licence by the Hong Kong Monetary Authority (HKMA).
The licence allows BSI to open a branch in
Hong Kong and offer clients a full suite of private banking and
investment services.
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BSI already has a presence in Hong Kong with
an investment advisory company, BSI Investment Advisors (Hong
Kong).
BSI said it already has a significant
portfolio of clients in Hong Kong and north Asia.
BSI chief executive, Alfredo Gysi, said that
the approval marked another important milestone for BSI in Asia,
where they have been actively expanding in the past
two years.
Gysi claimed that BSI’s Asian business significantly contributed
to the USD $3.1bn net new money that the bank attracted in the
first half of 2011.
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