HSBC Global Private Banking has launched an AI-powered structured product, linked to the Artificial Intelligence Powered Global Opportunities Index, for clients in Asia.
Developed by HSBC and EquBot, AiGO8 is a rules-based investment strategy combined with IBM Watson’s AI machine, as well as other technologies. These help turn data into investment insights and forecast techniques to enhance asset allocation.
In addition, the index contributed global diversification with opportunistic exposure to 18 assets (including global equities, fixed income, and inflation sensitive assets) and cash.
Furthermore, the portfolio is rebalanced weekly to remain nimble and seek resilient growth.
Siew Meng Tan, regional head of HSBC global private banking, Asia Pacific, said: “We are absolutely committed to providing our clients with the solutions they need to help them navigate this fast-changing environment and build future-fit portfolios. This innovative solution is another such example.”
Stefan Lecher, regional head of investments and wealth solutions, Asia Pacific, HSBC, added: “Our clients look to us first for actionable ideas and portfolio-level advice to keep them on track to achieving their objectives. Against this dynamic backdrop, the launch of AiGO8 underscores our ability to move quickly to deliver relevant solutions that leverage cutting-edge technology.”
The AI product is exclusive to HSBC Global Private Banking clients and also clients with professional investor and accredited investor status booked in Hong Kong and Singapore.
Earlier in the month, the bank named Henry Lam as Regional Head of Wealth Planning & Advising, Asia Pacific, effective March 28, 2023.
Lam will report to Siew Meng Tan, Regional Head of HSBC Global Private Banking, Asia Pacific, and will be based in Hong Kong.
In order to enhance and deepen client relationships and foster business growth, Lam will be in charge of overseeing teams of wealth planners, family governance, family office advisory, and charitable advisory specialists across the Asia Pacific region.