HSBC has established a new wealth hub in Hong Kong to tap the rising number of high-net-worth (HNW) investors in Hong Kong and the Greater Bay Area.
Located at Victoria Dockside in Tsim Sha Tsui, K11 ATELIER HSBC Wealth Centre will serve the HNW customers in Hong Kong and Mainland cities of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) under Wealth Management Connect.
The banking giant said the new hub will provide a range of advanced and tailored wealth solutions to clients with investible assets of at least $1m.
The move comes as the bank sees continued growth in its wealth business in the region, particularly in the affluent segment, following growing demand for wealth management services in Asia.
According to HSBC, its assets under management (AUM) for HNW clients in Hong Kong grew nearly 30% from last year as of the end of June 2021. The bank also registered a double digit growth in wealth income.
HSBC head of wealth and personal banking Hong Kong Maggie Ng said: “Located at one of the landmark buildings in Hong Kong, this flagship centre will provide HNW clients with a spacious, relaxing and private environment for holistic discussions with their dedicated relationship managers about their wealth ambitions, whether it be related to asset building, education for kids, posterity planning for the next generation or other financial goals.”
The wealth centre, which situates adjacent to HSBC Life Para-medical Centre, will also on-premises professional medical experiences in addition to protection, wealth and legacy planning.
HSBC Asia Pacific regional head of wealth and personal banking Greg Hingston said: “Our high net worth proposition is key to our ambition to become Asia’s leading wealth manager for clients across the wealth continuum. And we continue to see good momentum.”
In August this year, the British bank launched a portfolio-based advisory solution to help HSBC Jade clients with professional investor status in Hong Kong to develop a diversified portfolio.
This April, Bloomberg reported that HSBC opened a new institutional family office in Hong Kong and Singapore to offer super-rich customers in Asia access to a full range of investment banking products.