HSBC Trustee with $200 Billion Assets Celebrates 75th Anniversary in Asia, Plants 7500 Tree Seedlings in Malaysia to Restore Rainforest
21st September 2021 | Hong Kong
HBSC Trustee managing over 2,000 trust structures with more than $200 billion Assets under Administration, is celebrating its 75th anniversary in Asia by partnering with the South East Asia Rainforest Research Partnership (SEARRP) to plant 7,500 dipterocarp tree seedlings in Sabah (Malaysian Borneo) to restore degraded rainforest and absorb thousands of tonnes of carbon. The Sabah Biodiversity Experiment (by SEARRP) and partnership with HSBC Trustee will track the environmental impact over the next 5 years that will provide future restoration practices for climate and environmental change. HSBC Trustee is one of the longest serving private client trustee businesses in Asia to sustain clients wealth and legacy, and is integral to HSBC Private Banking to meet the needs of UHNW clients (Ultra-High Net Worth). HSBC Global Private Banking’s ambition is to become the world’s leading private bank for Asian, international and HSBC-connected clients.
“ HSBC Trustee with $200 Billion Assets Celebrates 75th Anniversary in Asia, Plants 7500 Tree Seedlings in Malaysia to Restore Rainforest “
Trustee manages a trust that can hold a wide range of assets within structures for clients. They can help protect and execute mandates privately and independently for families, family businesses and foundations for the benefits of the beneficiaries. For families, a trust also provides continuity, preserving capital and helping family members enjoy financial benefits across generations.
HSBC Trustee Partnership with South East Asia Rainforest Research Partnership (SEARRP)
The tree planting initiative is part of the Sabah Biodiversity Experiment, a large-scale research project which aims to provide an evidence base for the restoration of rainforest – one of the most pressing issues facing the tropics. The experiment has involved the planting over 150,000 indigenous trees on a site covering 500 hectares in Sabah, Malaysian Borneo – in an area of rainforest which supports many of Borneo’s iconic species including the orangutan, clouded leopard, sun bear and pygmy elephant. The Partnership with HSBC Trustee will not only restore a large, additional area of degraded rainforest and sequester thousands of tonnes of carbon, but the results from the associated experiments will guide and inform future restoration practices in the context of climate and environmental change.
Siew Meng Tan, Regional Head, HSBC Global Private Banking Asia Pacific:
”Technological, environmental, generational and social changes are defining the future of wealth and legacy planning. Many clients recognise that their wealth is not measured purely by its monetary value but by the positive change it can bring. The sponsorship shows our commitment to building a sustainable future together with our clients, which is at the core of our business.
For 75 years, HSBC Trustee has been the partner for sustaining our clients’ family wealth and legacy. Being one of the longest serving private client trustee businesses in Asia, we understand clients’ evolving needs. With the Group’s commitment to developing the Asian Wealth business, we look ahead to forging stronger bonds with entrepreneurs and families and helping them achieve their long-term ambitions.”
Brent York, Global Head of Trust and Fiduciary Services, HSBC Global Private Banking:
“HSBC Trustee understands the needs of business owners and entrepreneurs go beyond simply managing their wealth to ensuring future sustainability and growth. With HSBC’s global footprint and strong cross-bank collaboration, we are able to connect our Trustee clients to the Group’s world-class investment expertise and extensive corporate and investment banking resources.”
HSBC Trustee client assets under administration total over USD200 billion, with over 2,000 trust structures, employing over 300 employees globally and providing services from Hong Kong, Singapore, Delaware and New York in the US, and Jersey in the Channel Islands (30/6/21).
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The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of $2.97 trillion (30/6/21), HSBC is one of the world’s largest banking and financial services organisations.
HSBC Private Banking
As part of the HSBC Group, one of the world’s largest banking and financial services organisations, HSBC Private Banking seeks to be the leading international private bank for business owners and their families. It provides clients with wealth, business and family succession solutions in the largest and fastest growing markets around the world. HSBC Private Banking is the marketing name for the private banking business conducted by the principal private banking subsidiaries of the HSBC Group.