HSBC launches ‘entrepreneurial wealth proposition’ in Singapore
A recent report by the lender names the Republic as entrepreneurs’ top destination for wealth and relocation
[SINGAPORE] HSBC on Friday (Oct 24) announced the launch of an “enhanced entrepreneurial wealth proposition” in Singapore, aiming to provide “dedicated support” for entrepreneurs.
This follows the lender’s Global Entrepreneurial Wealth Report 2025 released in September, in which 15 per cent of entrepreneurs cited Singapore as the top destination for their wealth. The Republic was also ranked the No 1 destination for personal relocation by 12 per cent of respondents.
Almost half of the Singapore entrepreneurs polled said they were “concerned” about how to structure a business transfer or succession plan, with 43 per cent citing family discussions as a challenge.
“Currently, close to two-thirds of our global private banking clients in Singapore are entrepreneurs,” said Tommy Leung, HSBC’s head of global private banking.
In a press release, the lender said the new proposition combines its capabilities in global private banking and corporate banking.
The proposition includes private wealth entrepreneur incubation, intended for “existing corporate clients who have yet to onboard with the private bank”. It will offer “early access to tailored wealth planning, investment events and a global network of industry experts”, HSBC said.
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Educational and advisory sessions will also be offered to guide founders through pre-exit, initial public offerings and succession planning.
In addition, HSBC will introduce an “innovation exchange” – which has already been launched in Hong Kong and the United Kingdom – to connect private bank clients with “cutting-edge entrepreneurs and ventures” across Asia.
HSBC’s offering follows similar moves by other banks in Singapore.
Citi Private Bank counts entrepreneurs among its high-net-worth and ultra-high-net-worth individual service customer. UBS has entrepreneur and executive network solutions, and DBS Private Bank offers strategic, family-office and business-centric advisory services.
The bank’s September report also said that Singapore attracted the largest inflows of wealth from its neighbours, especially Indonesia and Malaysia.
“We’re seeing more entrepreneurs across Asia looking beyond growth to legacy – how to transition their success to the next generation,” said Leung. “Singapore’s international platform, and depth and breadth of expertise, make it a natural hub for that next chapter.”
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