Awards for Distinction 2023 – Best Private Bank – Wealth Continuum

Best Private Bank Wealth Continuum


HSBC Global Private Banking

Best Private Bank – Wealth Continuum

Stefan Lecher

Regional head of investments and wealth solutions, Asia Pacific

We are delighted to have been recognised as the Best Private Bank for Wealth Continuum by Asian Private Banker for the third consecutive year.

As the global wealth partner for clients at every life stage, we are dedicated to delivering best in-class wealth solutions that reflect our clients’ unique needs and aspirations, no matter where
they are in their journey, and providing an exceptional experience in the process.

Over the past 12 months, we have further refined our client segmentation, enhanced our solutions and digital touchpoints, and achieved even greater synergies across our product offerings and platforms. As a result, we are seeing significant growth momentum across all key metrics, and more importantly, we are cultivating stronger and deeper client relationships throughout Asia.

What was behind the judges’ decision?

  • The judging panel was convinced by HSBC’s efforts to streamline and simplify its wealth continuum model, removing its previous Jade tiers and resegmenting thousands of clients from wealth accounts into HSBC Global Private Banking ones. As a result, those in the US$2 million to US$10 million segment receive an enhanced service, ranging from personalised investment advice to exclusive private bank offerings such as Prism Advisory
  • HSBC has significantly enhanced its digital tools for wealth and private banking clients. These include an integrated view of both wealth and private banking accounts, ESG digital reporting, the ability for the client to communicate with their RM securely via WhatsApp and WeChat, simplified account opening, and online trading functionality
  • The bank has aligned its CIO view and product platform across wealth and private banking client segments, driving greater efficiencies, coherence and an improved service offering for clients. Key examples of this include an open architecture for structured products (with several new third-party issuers and pay-offs), onboarding fixed income products from the private bank onto the retail platform, and significantly broadening the range of funds available across all client segments

What we said

Asian Private Banker is delighted to award HSBC the accolade of Best Private Bank – Wealth Continuum for the third year running at our Awards for Distinction, reflecting the lender’s dedication and progress in building a comprehensive, unified offering for clients across the entire wealth spectrum,” said Daniel Shane, editor of Asian Private Banker. “From young millennials to affluent families to mega-rich entrepreneurs, the bank truly provides best-in-class solutions and advice for its clients wherever they are on the wealth continuum.

“Key to this evolving proposition over the last year has been HSBC’s Wealth Transformation Model, which has simplified the continuum, ensured clients are housed in the correct segment, aligned risk ratings, synergised product shelves, and provided a single CIO view across the entire wealth spectrum. The results of these efforts have been clear to see: higher revenues, net new assets, AUM and active clients – not to mention improved service for all.

“All of these improvements come with the quality of service that HSBC has long been renowned for, whether that’s state of-the-art digital tools, best-in-class investment products, and unrivalled global connectivity. Asian Private Banker would like to congratulate HSBC on its success at the Awards for Distinction 2023.”

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