HSBC, Citi and Standard Chartered to Add 6,600 Wealth & Private Banking Jobs in Asia
23rd April 2021 | Hong Kong
In a fast growing Asia with 4.4 billion people and home to the fastest growing billionaires, UHNWs & HNWs and affluent individuals in the world despite Covid-19, HSBC, Citi and Standard Chartered have announced plans in 2021 to hire more than 6,600 people in Wealth Management and Private Banking business units in Hong Kong, Singapore and Asia.
” HSBC, Citi, Standard Chartered to Add 6,600 Wealth & Private Banking jobs in Asia “
In February 2021, HSBC has announced to hire more than 5,000 in Asia, and in April 2021 Citi has reported 2,300 (of which 1,100 are Relationship Managers and Private Bankers) and Standard Chartered has announced plans to hire 400 in Hong Kong alone.
HSBC Wealth & Personal Banking, Private Banking
In September 2020, HSBC has appointed Annabel Spring as the new Chief Executive of HSBC Global Private Banking, one of the largest international private bank with more than $353 billion Assets under Management (AUM). Charlie Nunn is the current CEO of HSBC Wealth and Personal Banking.
HSBC Wealth and Personal Banking division was created earlier in 2020, when HSBC combined its retail banking and wealth management, asset management, insurance and private banking business units, to become one of the world’s largest global wealth managers with over $1.4 trillion (Q2 2020).
Global Private Banking, operate as a distinct business unit and brand, growing client assets in 1st half of 2020 to $353 billion and net new money (inflow) of $5.3 billion.
- HSBC Private Bank: $353 billion
- HSBC Retail Wealth: $357 billion
- HSBC Premier & Jade: $445 billion
- HSBC Asset Management: $263 billion
- Total: $1.4 trillion
Citi Private Wealth, Wealth Hub
In April 2021, Citi appointed Ida Liu as the new Global Head of Private Banking (Citi Private Bank), with Steven Lo and Fabio Fontainha as the new co-Heads of Citi Global Wealth in Asia-Pacific.
Citi also announced plans to exit 13 markets for Citi’s consumer businesses across Asia, Europe, Middle East and Africa (EMEA) and to focus on 4 key main hubs – London, UAE, Hong Kong and Singapore.
Citi Private Bank
Citi’s Private Bank serves the world’s wealthiest individuals, families and law firms. Citi Private Bank has around $550 billion AUM (Assets under Management), serving more than 13,000 UHNW clients, including 25% of the world’s billionaires and more than 1,400 family offices across 50 cities in over 100 countries.
Citi Private Bank focuses on clients who have an average net worth above $100 million, with clients gaining access to a highly customized experience and a comprehensive range of products and services including investments, banking, lending, custody, wealth planning, real estate, art, aircraft finance and lending, personalized advice, competitive pricing and efficient execution.
Citigold, Citigold Private Client and Citi Priority
Citi Global Consumer Bank, with Citigold, Citigold Private Client and Citi Priority, provides institutional grade, personalized wealth management services to clients, which includes dedicated Wealth teams, fund access and a range of exclusive privileges, preferred pricing and benefits to clients around the globe.
Citi’s Global Consumer Bank has approximately $200 billion in AUM (Assets under Management) globally and serves clients in the United States, Europe, the Middle East, Asia and Mexico.
- HSBC Appoints Annabel Spring as Chief Executive of Global Private Banking
- Citi Creates Citi Global Wealth to Manage all Global Wealth Units, Including Citi Private Bank
- Citi Gained $20 Billion Net Inflow into APAC Wealth Management Business
- Citi Private Bank Forms Citi Private Capital Group to Provide Institutional Service to Family Offices, Private Funds and Private Companies
List of Private Banks:
- 2020 List of International Private Banks in Hong Kong
- 2020 List of Boutique Private Banks in Hong Kong
- 2020 List of International Private Banks in Singapore
- 2020 List of Boutique Private Banks in Singapore
- 2020 Top 10 Largest Family Office in the World
- 2020 Top 10 Largest Multi-Family Offices in the World
- Top Research Reports in 2020
- Top Global Wealth Reports in 2020
- Top Family Office Reports in 2020
- 2020 Top 10 Largest Country in the World by Population
- 2020 Top 10 Largest Country in the World by Population – Table
- 2020 Top 10 Largest Economy in the World by GDP
- 2020 Top 10 Largest Economy in the World by GDP – Table
- 2020 Top 50 Largest Economy in the World by GDP
- 2020 Top 50 Largest Economy in the World by GDP – Table
- 2020 Top 10 Largest Country in the World by GDP
- 2020 Top 10 Largest Country in the World by GDP – Table
- 2020 Top 50 Largest Country in the World by GDP
- 2020 Top 50 Largest Country in the World by GDP – Table
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