HSBC Private Bank Launches Discretionary Portfolio Management on Mobile App, Minimum Ticket Size of $200,000 & Reallocate with 24/7 Access
24th November 2022 | Hong Kong
HSBC Private Bank has launched HSBC Global Private Banking Discretionary Portfolio Management on mobile app in Asia, with minimum ticket size of $200,000 and 24/7 access for HSBC private banking clients to subscribe & reallocate discretionary portfolio. The discretionary portfolio management (Equity, fixed income and multi-asset portfolios) was launched in May 2021 for HSBC private banking clients, delegating investment decisions with pre-set portfolio allocation to HSBC Global Private Banking (Managed by HSBC Asset Management and 3rd-party managers). Earlier in November 2022, HSBC Global Private Banking in Asia launched HSBC Prism Advisory, providing institutional quality analytics for private banking clients to monitor & optimise portfolio, including mobile alerts on risks & opportunities. And in July 2022, HSBC Private Banking launched a platform to provide clients with direct access to create & price Fixed Coupon Structured Notes via HSBC Structured Products Online Trading platform in Asia. In June 2021, HSBC Private Bank launched an online trading platform for all HSBC Private Banking clients booking their assets in Asia, providing trading access from their mobile phone to equities and ETFs in 10 major financial markets with 20 hours support, a high $2 million limit per trade and $10 million trading limit per day. The 10 major financial markets are Hong Kong, mainland China, Singapore, Japan, the Philippines, Australia, the UK, the US, Germany and France.
“ HSBC Private Bank Launches Discretionary Portfolio Management on Mobile App, Minimum Ticket Size of $200,000 & Reallocate with 24/7 Access “
Siew Meng Tan, HSBC Regional Head of Global Private Banking, Asia Pacific:
“The new discretionary digital platform will enable us to serve the immense and fast-growing segment of underserved affluent-to-high net worth investors, giving them access to sophisticated and exclusive DPM portfolio building blocks, especially the next generation clients who are more hands-on in portfolio construction.
Most discussions on DPM or portfolio construction today are still heavily reliant on face-to-face meetings, whether physical or virtual. The discretionary digital platform is built upon our strategic vision of making a broad product shelf and CIO content digitally available to our clients beyond the UHNW space. Having a simple yet powerful digital wealth management platform enabling investment at their fingertips has been a true game changer appreciated by many of our clients, especially digitally savvy millennials, who desire flexible means for more proactive wealth management, anytime and anywhere. In Hong Kong, 90% of our clients said that our digital services exceeded or met their expectations, a year-on-year increase of 5%.”
Related:
- HSBC Hires Citi Ashmita Acharya as Head of Wealth & Personal Banking Singapore, Leads Retail Banking, Private Banking, Wealth Management, Insurance & Asset Management
- HSBC Private Bank Asia Launches Prism Advisory Providing Institutional Quality Analytics to Monitor & Optimise Portfolio, Mobile Alerts on Risks & Opportunities
- HSBC Opens New HQ in Singapore at Marina Bay Financial Centre Tower 2, Opening Officiated by HSBC Group CEO Noel Quinn & Singapore Deputy Prime Minister Heng Swee Keat
- HSBC 2022 Study: $750,000 in Liquid Assets to be Considered Middle Class in Hong Kong, Investments in Properties, UK & China Properties & $490,000 for Children Overseas Education
- HSBC Private Banking Launches into Chengdu & Hangzhou, HQ of Jack Ma Alibaba & First International Private Bank into Western China
HSBC Private Banking New Launches
Earlier in November 2022, HSBC Global Private Banking in Asia launched HSBC Prism Advisory, providing institutional quality analytics for private banking clients to monitor & optimise portfolio, including mobile alerts on risks & opportunities.
In July 2022, HSBC Private Banking launched a platform to provide clients with direct access to create & price Fixed Coupon Structured Notes via HSBC Structured Products Online Trading platform in Asia.
In June 2021, HSBC Private Bank launched an online trading platform for all HSBC Private Banking clients booking their assets in Asia, providing trading access from their mobile phone to equities and ETFs in 10 major financial markets with 20 hours support, a high $2 million limit per trade and $10 million trading limit per day. The 10 major financial markets are Hong Kong, mainland China, Singapore, Japan, the Philippines, Australia, the UK, the US, Germany and France.
HSBC Global Private Banking: Committed to building a hybrid banking model which combines digital tools with human expertise, HSBC GPB has invested over $200 million over a four-year period to build and innovate its core banking and digital platforms. Currently, 2/3 of HSBC GPB’s clients are digitally engaged, while more than 35% of execution-only trades in Asia completed online.
Siew Meng Tan, HSBC Regional Head of Global Private Banking, Asia Pacific:
“In an increasingly challenging environment, more and more clients in Asia are opting for discretionary mandates to diversify their portfolios, build multiple income streams and take up defensive positions in high-quality companies to withstand market volatility and interest rate hikes. The new discretionary digital platform will enable us to serve the immense and fast-growing segment of underserved affluent-to-high net worth investors, giving them access to sophisticated and exclusive DPM portfolio building blocks, especially the next generation clients who are more hands-on in portfolio construction.
Most discussions on DPM or portfolio construction today are still heavily reliant on face-to-face meetings, whether physical or virtual. The discretionary digital platform is built upon our strategic vision of making a broad product shelf and CIO content digitally available to our clients beyond the UHNW space. Having a simple yet powerful digital wealth management platform enabling investment at their fingertips has been a true game changer appreciated by many of our clients, especially digitally savvy millennials, who desire flexible means for more proactive wealth management, anytime and anywhere. In Hong Kong, 90% of our clients said that our digital services exceeded or met their expectations, a year-on-year increase of 5%.”
About HSBC Global 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.
The Hongkong and Shanghai Banking Corporation Limited
The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 63 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2.992 trillion at 30 September 2022, HSBC is one of the largest banking and financial services organisations in the world.
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