HSBC Global Private Banking Expands in Greater Bay Area with Launch in Shenzhen, Global AUM at $423 Billion
22nd April 2022 | Hong Kong
HSBC Global Private Banking has expanded in the Greater Bay Area (Guangdong, Hong Kong & Macao) with the launch of private banking in Shenzhen, and with HSBC Global Private Banking now in 4 major China mainland cities (Beijing, Shanghai, Guangzhou & Shenzhen). HSBC China Global Private Banking providing a comprehensive range of wealth solutions to meet the needs of high-net-worth (HNW) and ultra-high net worth (UHNW) clients, have also partnered with Shenzhen-based HSBC Qianhai Securities to offer more tailored and diversified securities & asset management solutions. HSBC Head of Global Private Banking for Mainland China Jackie Mau: ”Vibrant entrepreneurialism and innovation are fuelling wealth creation across key centres in mainland China, including Shenzhen, where the number of households with net assets of more than 10 million yuan is increasing at a faster rate than any other GBA city. Our global private banking service in Shenzhen will help clients manage, grow and protect their wealth and support their ambitions for their enterprises and families. Over the next 3 years, we will be bringing the best of HSBC with more bespoke solutions for clients across GBA mainland cities, enhancing our digital platforms and servicing our clients with a private banking team that is triple our size today.” HSBC China Executive Vice President & Head of Greater Bay Area Daniel Chan: ” Shenzhen, a core city in the GBA, hosts a large HNW population with an international vision that is driving significant demand for international and customised wealth management services. The launch of Global Private Banking business in Shenzhen will further enhance the breadth of HSBC’s already comprehensive and globally-connected service capabilities in the GBA, which is central to our wealth strategy in Asia.” Globally, HSBC Global Private Banking manages around $423 billion of client assets.
“ HSBC Global Private Banking Expands in Greater Bay Area with Launch in Shenzhen, Global AUM at $423 Billion “
HSBC Global Private Banking
HSBC Global Private Banking manages $423 billion client assets globally, and is part of HSBC’s Wealth and Personal Banking (WPB), one of the world’s largest global wealth businesses, with over 38 million customers and more than $1.7 trillion in wealth balances. In 2021, HSBC announced its plans to invest over $3.5 billion and hire 5,000 wealth roles to accelerate the growth of its wealth business in Asia.