The Business Times
business-time-50
SUBSCRIBERS

HSBC to open 3 wealth centres in Singapore by Q1 2025 as part of pivot to wealth banking

Client-facing roles to increase by more than a third by 2028 to sustain growth momentum

google-preferred-sourceAdd BT as a preferred source
Tan Nai Lun

Tan Nai Lun

Published Tue, Jun 4, 2024 · 05:30 PM
    • Wong Kee Joo (left), CEO for HSBC Singapore, and Ashmita Acharya (right), head of wealth and personal banking at HSBC Singapore which aims to be the "wealth manager of choice" for affluent Singaporeans and international professionals.
    • Wong Kee Joo (left), CEO for HSBC Singapore, and Ashmita Acharya (right), head of wealth and personal banking at HSBC Singapore which aims to be the "wealth manager of choice" for affluent Singaporeans and international professionals. PHOTO: HSBC

    HSBC plans to open three wealth centres in Singapore by the first quarter of 2025, as part of its strategy to build its international and wealth propositions.

    The bank is increasing its investments fivefold in its physical network, as it pivots its branches into wealth centres “to facilitate comprehensive wealth conversations with clients”, it said on Tuesday (Jun 4).

    The three centres will be in the central business district (CBD), as well as the east and west regions of Singapore. The first centre will open in the CBD in June.

    HSBCWealth managementglobal wealthBanksHigh net worth individuals

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    ​OCBC head of global consumer financial services Sunny Quek says: “All of us (financial institutions) have a wealth strategy. What’s really going to differentiate one bank from another is the execution."

    OCBC consumer banking chief Sunny Quek aims to double wealth business by 2029

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    Hengli Petrochemical's refining complex in China's Dalian in 2018.

    Hengli’s ex-Singapore unit dismisses staff after US sanctions, at risk of being wound down: sources

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More