Best Private Bank Greater China
HSBC Global Private Banking
Best Private Bank – Greater China
Bryce Wan
Market head of Global Private Banking, North Asia
HSBC Global Private Banking
We are proud to be awarded Best Private Bank – Greater China, a great testimony to our on/offshore capabilities and established footprint across the region. This would not have happened without a highly devoted Greater China team across Hong Kong, mainland China and Taiwan, and our clients’ continued trust in us, for which we are very grateful.
As a global private bank dedicated to Asian and international clients and entrepreneurs, we have continued to invest significantly into our talents, platforms and capabilities in the dynamic Greater China market to serve our clients’ evolving wealth needs in 2023.
We understand the region’s leading families expect and demand services that go beyond the scope of conventional private banking – when clients bank with us, they are provided access to our Commercial Banking and Global Banking and Markets capabilities within the HSBC Group globally.
What was behind the judges’ decision?
- HSBC Global Private Banking has significantly enhanced its family office proposition in Hong Kong over the last 12 months, launching its Institutional Family Office Integration Model towards the end of 2023. Via the offering, the bank’s most sophisticated family office clients can access leading institutional coverage and services from the bank’s markets business while the private bank continues to lead the overall relationship. The bank drew clear examples of how the proposition has already contributed to fresh net new money flows
- In Taiwan onshore, HSBC Global Private Banking brought itself closer to its end clients by opening two new dedicated wealth centres, with plans to open a third. These developments were backed up by an increasing product set, including Lombard lending, domestic stock pledge lending, insurance, structured products and FX options/forwards. Finally, the private bank has seen a sizable uptick in referrals from its wealth segment, demonstrating the power of its wealth transformation project
- In mainland China onshore, the bank has been building on its growing role as a leading foreign player in this market with a proposition focused on legacy planning, wealth succession and family trust advisory. Leveraging its position as the largest QDII quota holder, HSBC Global Private Banking has also significantly enhanced its product portfolio in this market with new alternative strategies, equity-linked investments, and a dedicated China CIO
What we said
“In 2023, HSBC Global Private Banking went from strength to strength in the Hong Kong, mainland China and Taiwan markets, focusing on executing its strategic vision in everything from global connectivity to product capabilities and solutions to digitalisation,” said Daniel Shane, editor of Asian Private Banker. “The bank’s success in doing so was evident across key metrics, including net new money, revenue, AUM and client count, where HSBC Global Private Banking scored highly for the period under review for the Awards for Distinction 2023.
“Hong Kong has continued to be a fortress for HSBC Global Private Banking, with the lender sucking up wealth flows from across Asia Pacific into its largest regional booking centre. Its nascent mainland China onshore unit – launched just 18 months ago – is beginning to fire on all cylinders with new solutions focused on hedge funds and legacy planning. Meanwhile, Taiwan onshore has bolstered its proposition with Lombard lending, discretionary solutions and insurance.
“All of the above is reinforced with HSBC Global Private Banking’s market-leading global connectivity and one-bank proposition across commercial lending, global markets and asset management. Asian Private Banker is truly delighted to award HSBC Global Private Banking our inaugural accolade for Best Private Bank – Greater China.” .
Contact Us
All awards related enquiries to
candice.c@asianprivatebanker.com
+852 8191 7196
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