Hong Kong’s Hang Seng Bank has introduced new signature wealth management services for HNW customers.

Dubbed Signature, this new service combines personalised wealth and banking solutions with lifestyle and health services.

The bank is offering the new service to clients with total relationship balance of HK$8m ($1.03m) or above.

Hang Seng Bank’s most senior and experienced relationship managers are dedicated to serving these clients.

They will oversee the development customised portfolio-based wealth management strategies in close collaboration with the clients, the bank said.

Furthermore, the Signature clients are being offered open access to five teams of financial and wealth management experts specialising in investment, foreign exchange, securities, insurance, and financing services.

This is in addition to other transactional banking services and products, and insurance plans and investment products.

Along with the launch of the new service, Hang Seng opened its first Signature Centre at Hang Seng Bank Headquarters.

This 5,680 sq.ft centre is said to house 12 meeting rooms for private consultations on personal financial planning, spacious lounges, banking kiosks and a beverage bar.

Hang Seng executive director and Wealth and Personal Banking head Margaret Kwan said: “The launch of Signature and the new initiatives we plan to roll out in 2021 represent the continued evolution of Hang Seng’s customer-centric strategy to offer customers the full spectrum of personalised and exclusive financial services and offerings to meet their changing needs.

“For the Bank, Signature will help us strengthen our long-term relationships with customers as we continue to support their financial requirements through different stages of life.”

Earlier this week, it was reported that over the next two years, JPMorgan Chase is set to almost double the number of private bankers in Singapore, who serve rich Chinese clients.