HSBC Private Bank has launched HSBC Access, a new offering aimed at ultra high net worth individuals (UHNWIs) and family offices, giving eligible clients access to selected venture capital funds, private market opportunities and technology investments sourced across the bank. The platform combines investment opportunities, market insights and networking events focused on technology and innovation sectors. For the first time, […]

The post HSBC Private Bank brings innovation banking deal flow to wealthy clients appeared first on Asian Private Banker.

Hong Kong’s Hang Seng Bank has made a senior appointment to its private banking business, Asian Private Banker has learnt Effective 1 June 2026, Eric Li will assume the role of market head for Hang Seng Private Banking, reporting to Theodore Mak, head of retail distribution at Hang Seng Bank, according to an internal announcement seen by APB. In response […]

The post Hang Seng Private Banking appoints HSBC veteran as market head appeared first on Asian Private Banker.

HSBC recorded dramatic growth in its wealth net new money (NNM) and net new invested assets (NNIA) in 1Q26, despite private bank client balances dipping slightly. On top of growth in its wealth business as a whole, HSBC also reported growth in wealth fees for its International Wealth and Premier Banking (IWPB) and Hong Kong segments. This aligns with industry […]

The post HSBC 1Q26: Wealth NNM surges 70% as Hong Kong fees jump appeared first on Asian Private Banker.

Despite prolonged geopolitical tensions in the Middle East, Asia’s CIOs remained confident in US equities and gold, extending the trend seen in 1Q26, according to Asian Private Banker‘s review of major house views. While bullish sentiment on equities and gold lingered on, the constructive view on private markets from the previous quarter weakened amid recent headlines of private market stress. […]

The post CIO views 2Q26 visualised: PBs bullish equities, gold, but turn cautious on private markets appeared first on Asian Private Banker.

Asia’s private banking AUM has crossed the US$4 trillion mark, according to Asian Private Banker‘s 2025 League Tables. With J.P. Morgan Private Bank entering the top three for the first time and Nomura International Wealth Management (IWM) making its debut in the tables, the 2025 rankings saw widespread movements. J.P. Morgan Private Bank led this growth with a 41% increase […]

The post Asia 2025 AUM League Tables: Assets cross US$4tn, JPM enters top three, Nomura debuts appeared first on Asian Private Banker.

Asian Private Banker successfully hosted the China Wealth Awards 2025 gala dinner in Shanghai on Thursday, gathering the brightest minds in China’s private banking and wealth management industry. Against a glittering backdrop, the event brought together about 140 industry leaders and offered high-level networking, insightful discussion, and formal recognition of industry-leading excellence. Beyond celebrating individual and institutional success, the gala […]

The post APB’s 8th China Wealth Awards brings together industry leaders in Shanghai appeared first on Asian Private Banker.

Ultra high net worth (UHNW) clients are increasingly seeking to tap everything from luxury assets to superyachts to unlock extra liquidity amid uncertain markets, as demand for strategic lending starts to rival that of traditional margin loans. In response, private banks are poaching from investment banking benches for rare talent with specialised lending experience to meet demand. Asian Private Banker […]

The post Private banks build “weapons-grade” lending platforms to meet surging UHNW demand appeared first on Asian Private Banker.

The chief investment officer (CIO) for Asia at HSBC Private Bank and Premier Wealth has left the bank after nearly a decade of service, Asian Private Banker has learnt. Cheuk Wan Fan has departed the UK lender. Her registration with HSBC ended on 27 February 2026, according to the Hong Kong Monetary Authority records. A spokesperson for HSBC confirmed to […]

The post Asia CIO departs HSBC Private Bank and Premier Wealth appeared first on Asian Private Banker.

This International Women’s Day, the focus shifts from the glass ceiling to childhood bedrooms. In a financial landscape often defined by rigid metrics, the evolution of Asia’s fund selectors suggests that success isn’t about abandoning childhood dreams—it’s about translating them.  Asian Private Banker spoke with three female fund selectors who demonstrate that the core competencies of high-stakes fund selection — […]

The post IWD 2026 — Beyond the glass ceiling: How childhood dreams shaped Asia’s fund selectors appeared first on Asian Private Banker.

Wrapping up FY25, HSBC delivered top- and bottom-line growth across its international wealth and premier banking (IWPB) and Hong Kong segments, alongside double-digit growth in its private bank client balances. The bank saw a 10% and 5% YoY profit before tax growth for IWPB and Hong Kong, respectively, while private bank client balances grew 17% YoY to US$566 billion. Combining […]

The post HSBC hits US$2.1tn milestone as Hong Kong wealth fees surge 40% appeared first on Asian Private Banker.

With performance dispersion widening in an increasingly uncertain world, very few alternative managers are now managing to meet the strict selection criteria of Asia’s private banks, according to private banking alts leaders at the Asian Private Banker’s Alternative Investments Summit 2026 in Hong Kong. The panel discussion, Macro outlook of alternative investments: Innovations, potentials, new insights, dissected how private banks […]

The post AIS 2026 HK: Private banks raise the bar for alts managers appeared first on Asian Private Banker.

Galloping into the Year of the Fire Horse, the race continues among private banks and asset managers to see who can distribute the most spectacular red packets to clients. More than just traditional gifts for family and friends, these laisee, or hongbao, have morphed into cult collectables, often trading on secondary markets for prices that rival the currency inside. Horses […]

The post Vote now: Who has the best red packets in Year of the Horse? appeared first on Asian Private Banker.

HSBC Private Bank has made a series of senior appointments in Singapore and Hong Kong, according to an announcement on Friday. Among the new hires, Phaneendar Bhavaraju and Rangan Krishnan have joined the global India team in Singapore as senior relationship managers. Both report to Manoj Ramarao, senior desk head, global India, Singapore and Hong Kong. The hires target the […]

The post HSBC PB doubles down on global India and offshore China with senior hires appeared first on Asian Private Banker.

In 2025, North Asia’s private banking sector saw a golden moment amid rising market strength and sanguine sentiment, with Hong Kong supporting wealth creation through its capital markets. As we head into 2026, APB highlights five private banks to watch in Hong Kong. UBS GWM back to growth mode post CS integration Two years after the announcement of its shotgun […]

The post Five private banks to watch in Hong Kong in 2026 appeared first on Asian Private Banker.

HSBC has hired another senior industry veteran from Citi to grow its wealth business. The UK lender appointed Valentín Valderrábano as chief commercial officer for International Wealth and Premier Banking (IWPB), effective 20 February 2026. Valderrábano will relocate from New York to Hong Kong and report to Barry O’Byrne, chief executive officer for IWPB at HSBC. In this role, he […]

The post HSBC taps another Citi veteran to drive wealth growth appeared first on Asian Private Banker.

Janus Henderson Investors announced today the launch of a thematic global equity fund that will be available exclusively to HSBC clients, according to a statement shared with Asian Private Banker.  The actively managed fund, named the Janus Henderson Horizon Discovering New Alpha Fund (DNA), is a globally diversified portfolio of roughly 50 stocks focused on themes such as automation, mobility, […]

The post HSBC Private Bank secures exclusive on Janus Henderson’s new global equity fund appeared first on Asian Private Banker.

A senior Singapore-based investment executive has decided to depart HSBC Private Bank and join UBS, Asian Private Banker has learnt. James Cheo, chief investment officer for Southeast Asia and India at HSBC Private Bank and Premier Wealth, has resigned, people familiar with the matter told APB. HSBC Private Bank confirmed Cheo’s resignation to APB, adding that his tenure will conclude […]

The post James Cheo is leaving HSBC Private Bank to join UBS appeared first on Asian Private Banker.

Asian Private Banker is delighted to present Final Word 2025, our year-in-review feature featuring regional heads from wealth management players across APAC. Click here to read Final Word 2025 In this exclusive feature, top executives reflected on what kept them up at night in 2025, covering everything from digital transformation to regulations, and business strategy to investment performance. Below are some […]

The post Final Word: Private banking leaders reflect on strong a 2025, reveal strategies for 2026 appeared first on Asian Private Banker.

Private banking CIOs from Bank of Singapore, Lombard Odier and HSBC reveal their strategies going into 2026. Among the more popular calls are Asia, gold, and the broader AI ecosystem, betting on a Fed-driven weakening of the US dollar to fuel a rotation into faster-growing emerging markets.  While CIOs generally expect the US to avoid a recession, as a base […]

The post Asia, gold and AI lead CIO bets for 2026 amid weakening dollar appeared first on Asian Private Banker.

Private banks and wealth managers in Southeast Asia are recalibrating their approach to alternative assets, sharpening risk models and stress-testing portfolios, as exit windows narrow and credit risk edges higher, experts at Bank of Singapore, BNP Paribas Wealth Management, Indosuez Wealth Management and HSBC Private Bank told Asian Private Banker. Across the region, the combination of sluggish IPO markets, muted M&A […]

The post Liquidity pressure in private markets? Private banks say yes appeared first on Asian Private Banker.

HSBC Global Private Banking (GPB) led the private wealth management hiring scene in October with a series of frontline expansions across teams and geographies. Other key industry hires last month include Indosuez Wealth Management appointing former Bank of Singapore Greater China and North Asia market head Phonda Chan as its deputy chief executive for the Hong Kong branch, and former […]

The post Movers & Shakers: Breaking down HSBC GPB’s 2025 hires appeared first on Asian Private Banker.

As private banks compete to enhance their offerings in the discretionary space, HSBC Global Private Banking (GPB) has made a senior appointment to its Hong Kong team. Allen Chiu is now the head of discretionary and funds specialists, Hong Kong, at HSBC GPB, succeeding Suzanna Wong, who departed the bank in July after two years. HSBC did not immediately respond […]

The post HSBC GPB picks Hong Kong head for discretionary and funds appeared first on Asian Private Banker.

HSBC has appointed a new head of international wealth and premier banking (IWPB) Taiwan. Effective 3 November 2025, Kevin Hu will lead the bank’s IWPB business strategy and expand the bank’s footprint as an international wealth manager in Taiwan, according to a statement on Friday. Hu joins HSBC from Cathay United Bank, where he worked as a senior executive vice […]

The post HSBC hires Citi veteran to head Taiwan IWPB business appeared first on Asian Private Banker.

HSBC and UOB have each hired a former team head from Julius Baer, Asian Private Banker has learnt. Based in Hong Kong, Ricky Chow has joined HSBC Global Private Banking as director and desk head, relationship management, according to records from the Hong Kong Monetary Authority. HSBC confirmed the hire. Chow was most recently a Greater China Hong Kong team head at Julius Baer, where he […]

The post HSBC, UOB snap up former Julius Baer Greater China team heads appeared first on Asian Private Banker.

Banks hailing from the UK and continental Europe delivered robust top- and bottom-line growth in the third quarter of 2025, mirroring the strong earnings reported by their American counterparts. UBS Global Wealth Management (GWM), Deutsche Bank Private Bank, BNP Paribas Wealth Management (BNP Paribas WM), HSBC, and Standard Chartered all posted double-digit revenue or profit growth, supported by higher client […]

The post 3Q25: European private banks keep pace with US rivals appeared first on Asian Private Banker.

Private banks in Southeast Asia have been seeing record growth across the region, according to private banking leaders at the APB Summit 2025 in Singapore. The panel discussion, Southeast Asia focus: Gearing up for 2026 – growth, strategies, and expansion, delved into what has been driving growth in the wealth space over the past year and how banks are working […]

The post APB Summit 2025: HSBC, JP Morgan PB, BNP Paribas WM, Pictet dissect Southeast Asia’s growth engines appeared first on Asian Private Banker.

North Asia’s private banking sector is observing a “golden moment,” fueled by increasing market strength and clients seeking diversification, private banking leaders said at the Asian Private Banker Summit 2025 in Hong Kong. “It’s a rising tide in the markets. I think much of the work we have collectively put in as an industry over the last few years, along […]

The post APB Summit 2025: HSBC, UBP, Morgan Stanley PWM on North Asia’s ‘golden moment’ appeared first on Asian Private Banker.

In September, India led the hiring in Asia as LGT named seven managing directors from Barclays for its onshore India wealth business. The month also saw some major moves in the industry, including the former Bank of Singapore co-head of private banking, Robin Heng, joining EFG as vice chairman of Southeast Asia after announcing his retirement last year. VP Bank’s […]

The post Movers & Shakers: Who is LGT up against in India? appeared first on Asian Private Banker.

HSBC Global Private Banking (HSBC GPB) has made a series of appointments for its Asia frontline and client lifecycle management (CLM) teams to position itself for growth over the next three to five years. Frontline hires Effective 25 September 2025, Edy Panggabean is now a senior relationship manager and cluster head for Indonesia at HSBC GPB, the bank announced in […]

The post HSBC GPB makes string of frontline and client lifecycle hires appeared first on Asian Private Banker.

From 2020 to 2024, Asia’s private banks expanded their total Asia ex-China onshore AUM by 32%, increasing from US$2,346 billion to US$3,093.5 billion over the five years. The fastest growth in industry AUM occurred in 2023, when AUM across private banks grew 24.6%, following a year when AUM contracted by 6.2% in 2022. Out of the 23 private banks included […]

The post Which private banks are leading AUM growth in Asia? We reveal appeared first on Asian Private Banker.

After two decades at Deutsche Bank, Kanas Chan has stepped into HSBC Global Private Banking (HSBC GPB). In her first 100 days, she’s been busy strengthening client ties, boosting staff engagement, and sharpening processes. Asian Private Banker caught up with her in Hong Kong to hear what’s brewing in her new role. Describing herself as a humble, servant-minded leader, Chan, […]

The post “Humbleness is very important”: Kanas Chan’s first 100 days at HSBC GPB appeared first on Asian Private Banker.

Taiwan’s wealth management sector is gaining momentum as global banks and asset managers target high-net-worth (HNW) clients, offering bespoke investment products, ESG-focused strategies, and exploring collaborations to capture the next wave of sophisticated investors. Banks including HSBC, Standard Chartered, DBS and UBS have received the regulatory green light to conduct high net worth business in the new Kaohsiung Asset Management […]

The post From bespoke products to ESG, how foreign firms are wooing Taiwan’s elite appeared first on Asian Private Banker.

For 2H25 and 3Q25, most private banks are neutral on global and US equities with a preference for Asia ex-Japan and China. Most are also neutral on fixed income, with investment grade being the most preferred fixed income asset class. Short-term bonds and cash are the least preferred. A positive sentiment is seen for alternatives, with the majority of banks […]

The post Asset allocation 2H25: Private bank CIOs bet on Asia, China, and alts appeared first on Asian Private Banker.

HSBC Global Private Banking (HSBC GPB) has named a head of investment counsellors (IC) for Asia Pacific. Effective 5 August, Edmund Lo will become regional head of IC, Asia Pacific, for the retail-linked private bank, according to a statement from the bank on Friday. Based in Hong Kong and succeeding Gabriel Tam, Lo will report to Lok Yim, regional head of […]

The post HSBC GPB names APAC investment counsellors head appeared first on Asian Private Banker.

Wealth management giant UBS Global Wealth Management (UBS GWM) saw double-digit growth in profit before tax (PBT) for both its GWM unit and APAC GWM segment in 2Q25. At the same time, HSBC reported profit dips in both Hong Kong and International Wealth and Premier Banking (IWPB). According to the latest earnings reports, UBS GWM reported a 38% increase in […]

The post UBS GWM’s profits up post-integration, while HSBC stumbles post-reorg appeared first on Asian Private Banker.

HSBC Global Private Banking (HSBC GPB) has made a series of senior appointments aimed at strengthening its coverage in Southeast Asia and Australia. Joanne Ng will join the bank as desk head for the Singapore team, the bank said in a statement on Tuesday. Based in Singapore, she will lead a team of relationship managers serving high net worth individuals […]

The post HSBC GPB expands SEA and Australia coverage with senior hires appeared first on Asian Private Banker.

Two senior investment specialists in Southeast Asia at HSBC Global Private Banking (HSBC GPB) are set to depart the bank, Asian Private Banker understands. George Lam, head of discretionary, funds and ETFs, Southeast Asia, has recently resigned from the bank, APB can reveal. Lam first started his career at HSBC from 2010 to 2011, covering funds. He later joined UBS […]

The post HSBC GPB’s Southeast Asia heads of DPM and alts resign appeared first on Asian Private Banker.

HSBC Global Private Banking (HSBC GPB) has promoted a veteran to implement the bank’s operating model and strategy in Asia Pacific. Effective 21 July, Benoit Douchin has been appointed as chief operating officer, Global Private Banking, Asia Pacific, the UK lender said in a statement on Wednesday. Douchin had already been serving in this role on an interim basis, according […]

The post HSBC GPB appoints COO for Asia Pacific appeared first on Asian Private Banker.

The S$27.45 million in fines that Singapore’s regulator handed out last week is more than just a headline. It’s a warning. Nine financial institutions, including UBS, Credit Suisse, Julius Baer, Citi, LGT, and UOB, were penalised for lapses tied to the country’s most significant money laundering case. But let’s be honest. Are these fines significant for institutions that generate massive […]

The post Bottom Line: Culture eats compliance for breakfast appeared first on Asian Private Banker.

As Thailand emerges as a potential hotspot for wealth management, international players in the region are aiming to differentiate their offerings to capture AUM and talent in this growing market. This is according to senior executives at this year’s edition of Asian Private Banker‘s annual Thailand Private Banking Leaders Conversation. The Bangkok event drew a full house of senior executives, […]

The post “There is a war for talent”: Int’l private banks reveal onshore Thailand playbook appeared first on Asian Private Banker.

HSBC has appointed an internal veteran as the new global head of investments and managed solutions for its wealth and premier solutions unit. Sami Abouzahr took up the new role at the start of the month. He will continue to be based in Hong Kong and will report to Lavanya Chari, head of wealth and premier solutions, HSBC, according to […]

The post HSBC promotes Hong Kong wealth solutions head to global role appeared first on Asian Private Banker.

While private banking hiring in Asia Pacific slowed in April, several asset managers in the region named new CEOs. There were also some surprise departures in the private banking industry, with Nomura International Wealth Management (IWM)’s head of North Asia, Rudolf Hitsch, leaving the bank after two years in the role. The head of IWM at Nomura, Ravi Raju, will […]

The post Movers & Shakers: Heavyweights exit Nomura IWM and HSBC GPB appeared first on Asian Private Banker.

Asian Private Banker held the China Wealth Awards 2024 gala dinner last night in Shanghai to great success, bringing together the brightest minds in private banking and wealth management. The glittering event was marked by a vibrant atmosphere, with industry leaders and innovators celebrating the achievements of the top performers in China’s flourishing wealth management landscape. Attendees enjoyed an evening […]

The post APB hosts gala dinner for 7th China Wealth Awards in Shanghai appeared first on Asian Private Banker.

Hong Kong led the growth for HSBC’s wealth unit in Asia, which captured US$16 billion in net new invested assets (NNIA) in the first quarter of 2025. In 1Q25, HSBC Wealth, which includes private banking, asset management, insurance, and investment distribution, reported US$2.3 billion in fee and other income, up 23% from a year ago, according to the UK lender’s […]

The post HSBC sees optimism in Asia wealth business with US$16bn NNIA in 1Q25 appeared first on Asian Private Banker.

The regional head of investment counsellors for Asia Pacific at HSBC Global Private Banking (HSBC GPB) is exiting the UK lender after six years, Asian Private Banker has learnt. Gabriel Tam is leaving HSBC GPB on 1 May 2025, multiple sources told APB. HSBC confirmed Tam’s departure, adding that Edmund Lo will serve as interim regional head of investment counsellors […]

The post HSBC GPB regional head of investment counsellors exits appeared first on Asian Private Banker.

HSBC has announced a change of leadership to its China International Wealth and Premier Banking (IWPB) division, according to an internal memo seen by Asian Private Banker. Effective 1 May 2025, Shanghai-based China IWPB head Trista Sun will become managing director, strategic projects for IWPB, the memo said. Reporting to Barry O’Byrne, CEO of IWPB, Sun will relocate to Hong […]

The post HSBC Asia wealth chief to relocate to China appeared first on Asian Private Banker.

Asia’s private banking AUM has surpassed US$3 trillion, according to Asian Private Banker‘s Asia 2024 League Tables, reflecting both the region’s growing wealth and strategic shifts among top players. In one of the most profound moves, Standard Chartered cracked the top five for the first time, showing how fast fortunes can change. The UK-based bank posted an AUM jump of […]

The post Asia 2024 AUM League Tables: AUM hits US$3tn, StanChart enters top five appeared first on Asian Private Banker.

HSBC has opened a new wealth centre in an affluent mainland Chinese city as the bank seeks to capture the rising demand for wealth management in the world’s second-largest economy. The new centre is located in Hangzhou and serves as a wealth management hub for its host city and surrounding areas, according to a statement from the bank on Tuesday. […]

The post HSBC continues spree of wealth centre launches in mainland China appeared first on Asian Private Banker.

The 90-day pause on the reciprocal tariffs has not yet defused market concerns about elevated uncertainty over the US trade policy, but HSBC Global Private Banking and Wealth’s Asia CIO is bullish on Asia markets to be the winner in the current market environment. “We expect market volatility to stay at an elevated level and advise clients to reduce concentrated […]

The post HSBC GPB Asia CIO favours Asia markets amid Trump’s tariff blitz appeared first on Asian Private Banker.

HSBC Global Private Banking (HSBC GPB) has appointed a desk head for Malaysia, Asian Private Banker has learned. Effective immediately, Tony Wong will report to Hammad Hashmi, market head for Singapore, Malaysia and Indonesia, on both an entity and a functional basis, according to an internal memo seen by APB. HSBC confirmed Wong’s appointment. As Malaysia desk head, Wong will […]

The post HSBC GPB names new desk head for Malaysia appeared first on Asian Private Banker.

Asia continues to be a key driver for HSBC’s wealth business, with the region accounting for 73% of the bank’s net new invested assets (NNIA) in 2024, driven heavily by the Global Private Banking (GPB) unit, the bank’s latest earnings report shows. HSBC’s NNIA for its Wealth and Private Banking (WPB) business stood at US$64 billion in 2024, of which […]

The post HSBC earnings: Asia private banking unit drives asset inflows appeared first on Asian Private Banker.

HSBC is expanding its presence in India by opening a new office in the GIFT City, as a growing number of global and domestic wealth managers seek to tap India’s growing wealth market. This week, HSBC unveiled the opening of a new office in India’s GIFT City for its International Wealth & Premier Banking (WPB) solutions. This follows the UK […]

The post HSBC expands onshore India presence with new GIFT City office appeared first on Asian Private Banker.

With the year of the snake approaching, competition between private banks in Asia is hotting up when it comes to who can distribute the most dazzling red packets to clients. These envelopes – known as laisee or hongbao – are traditionally given to family members and friends. However, they can also be highly sought-after collectors’ items and fetch a premium […]

The post Vote now: Who has the best red packets in Year of the Snake? appeared first on Asian Private Banker.

From the rise of the Magnificent Seven and AI, to resurgent Chinese and Japanese markets, 2024 represented a return to form in terms of private banking client activity compared to the doldrums of 2022 and 2023. Nevertheless, the industry in Asia was stunned by several notable departures and appointments at top private banks. Below, Asian Private Banker highlights the most […]

The post HSBC, Bank of Singapore, VP Bank: The exec moves that shocked the industry in 2024 appeared first on Asian Private Banker.

HSBC’s former global CEO for wealth and personal banking at HSBC has resurfaced at Australia’s ANZ. The Melbourne-based bank said on Monday that Nuno Matos would take over from Shayne Elliott as chief executive officer, who is retiring after nine years in the role. Matos will start his new job on 3 July 2025, according to a company statement. Matos will […]

The post Ex HSBC wealth chief to lead Australia’s ANZ appeared first on Asian Private Banker.

HSBC Global Private Banking’s (HSBC GPB) head of investment and wealth solutions (IWS) for Southeast Asia has decided to leave the bank, Asian Private Banker can reveal. Jeffrey Yap, who took on the role in 2022, resigned from the UK lender recently, according to people familiar with the matter. With over two decades of experience, Yap joined HSBC GPB in 2017 […]

The post HSBC GPB’s Southeast Asia investment and wealth solutions head resigns appeared first on Asian Private Banker.

HSBC’s 3Q24 profits beat market expectations due in part to a strong wealth performance in Asia, as the bank embarks on significant restructuring under new CEO Georges Elhedery. Profit before tax increased by 9.9% to US$8.48 billion in 3Q24 from last year. This was primarily attributed to revenue growth in Wealth and Personal Banking (WPB), which reflected higher customer activity […]

The post Strong Asia wealth performance boosts HSBC’s 3Q24 profit appeared first on Asian Private Banker.

HSBC has restructured its business lines and geographies following the recent appointment of group CEO Georges Elhedery, that will effectively separate the UK lender’s activities between east and west. Effective 1 January 2025, HSBC’s business lines will include Hong Kong, UK, corporate and institutional banking, and international wealth and premier banking, the bank said in a statement on Tuesday. The […]

The post All roads lead east? HSBC unveils latest group overhaul appeared first on Asian Private Banker.

HSBC’s investment and wealth solutions (IWS) unit, which builds solutions for mass affluent to UHNW clients, has seen its invested assets grow by over 20% YOY. IWS currently covers investment products solutions for both retail banking and global private banking and serves clients across the whole continuum, from the mass market, affluent (HSBC Premier), HNW, UHNW and family office. In […]

The post HSBC’s IWS assets up over 20% in Asia as private markets gain traction appeared first on Asian Private Banker.

With the upcoming US presidential election, geopolitical flashpoints around the globe and a significant rate cut, private banks and asset managers have been emphasising the need to broaden exposure when moving into the final quarter of 2024. “Yet, all this uncertainty should bring opportunities for investors. Staying nimble will be key as economies move towards a lower growth, lower inflation […]

The post Outlook 4Q24: Private banks, asset managers eye Asian opportunities as global economy slows appeared first on Asian Private Banker.

Global fintech firm iCapital announced on Monday that it is providing its technology to HSBC Global Private Banking (HSBC GPB) in Hong Kong and Singapore. iCapital’s end-to-end enterprise solution will be fully integrated into HSBC GPB’s platform to digitalise the private market investment experience for its relationship managers, investment counsellors, operations teams, as well as its clients. The solution will […]

The post HSBC GPB partners with iCapital for alts tech in Hong Kong, Singapore appeared first on Asian Private Banker.

After a relatively quiet summer, Asia’s private banking industry was shaken by high profile departures in August. Firstly, VP Bank’s Asia CEO and Asia COO suddenly left the bank. But it was not the only player to see a surprise exit, with HSBC’s Hong Kong-based global CEO of wealth and personal banking also abruptly stepping down. However, the month started […]

The post Movers & Shakers: Private banking industry rocked by heavyweight exits appeared first on Asian Private Banker.

Asian Private Banker is proud to present the launch of its Asia Markets 2023 AUM League Tables which track the growth story of private wealth management in Thailand, Taiwan, the Philippines, Malaysia, and Indonesia. Today marks the launch of our Thailand and Indonesia data, with Taiwan, Malaysia and the Philippines to follow on Wednesday this week. In this year’s AUM […]

The post APB Insights: Two-speed Thailand – AUM growth slows for local banks as int’l players make strong gains appeared first on Asian Private Banker.

HSBC’s Wealth and Personal Banking (WPB) unit attracted US$38 billion of net new invested assets (NNIA) in Asia in 1H24, representing 43% YoY growth as the bank continues to see strong wealth momentum in the region. WPB revenue decreased 11% YoY to US$14,312 million, while profit before tax dropped 25% to US$6,458 million, which contributed to 38% of the group’s […]

The post HSBC WPB attracts US$38bn NNIA in Asia; StanChart on track to hit 2026 targets appeared first on Asian Private Banker.

A group of 11 relationship managers is departing HSBC’s premier banking unit in Singapore to join Julius Baer, Asian Private Banker has learned. According to people familiar with the matter, among the bankers is Krist Wong, head of premier international Singapore, responsible for the Greater China offshore banking business at HSBC Singapore for premier and premier elite segments. Fen Lee […]

The post HSBC’s affluent banking unit loses 11 RMs to Julius Baer appeared first on Asian Private Banker.

HSBC Life has named a new Hong Kong CEO aiming to capture the rising demand for insurance protection and wealth management in the Greater Bay Area (GBA). Daisy Tsang, who has worked for HSBC for more than two decades, has been named as the CEO of HSBC Life Hong Kong, effective 1 August 2024, subject to regulatory approval, the insurance […]

The post HSBC Life names Hong Kong CEO to meet rising GBA demand appeared first on Asian Private Banker.

The following is an excerpt from Asian Private Banker’s Bottom Line newsletter – an essential rundown of all of the past week’s essential news and views on the region’s private banking industry. Bottom Line is available to all APB subscribers. HSBC’s decision to appoint insider Georges Elhedery as group CEO brings to a fairly swift conclusion the hunt to replace […]

The post Bottom Line: What does HSBC’s new group CEO mean for Asia? appeared first on Asian Private Banker.

HSBC Global Private Banking (HSBC GPB) has lost another Southeast Asia market banker amid the recent departures of SEA market heads, Asian Private Banker can reveal. Thavendran Karthigasu, a senior Indonesia market banker, has recently left the firm, according to people familiar with the matter. Also known as Thaven Karthi, Karthigasu has been with the UK lender in Singapore for […]

The post HSBC Global Private Banking loses another SEA banker appeared first on Asian Private Banker.

This is a sponsored video from HSBC China Global Private Banking.  HSBC’s Jackie Mau shares the recipe behind Global Private Banking’s two-year run of business in mainland China. Learn more here.

The post HSBC China Global Private Banking: The Secrets of Success appeared first on Asian Private Banker.

U/HNWs in the Hong Kong and mainland Chinese markets are increasing their risk appetite, according to fund managers in both jurisdictions. But that does not necessarily mean they are investing in the same products. Onshore Chinese investors are generally more risk averse and are gravitating towards money market funds, fixed deposits and fixed income products. Offshore Chinese investors, on the […]

The post Onshore vs offshore: Which Chinese investors are taking more risk? appeared first on Asian Private Banker.

While US AI stocks may still dominate the market narrative going into the second half of the year, private banks are identifying more opportunities in Asia, expecting the region to deliver robust GDP growth throughout 2024. HSBC Global Private Banking’s (GPB) Asia CIO team believes Asia remains the most important growth engine of the global economy with projected GDP growth […]

The post Private bank CIOs pivot to Asia market opportunities for 2H24 appeared first on Asian Private Banker.

A former HSBC COO based in Hong Kong has recently left the bank to become the CEO of an Australian home loan provider, the firm said on Tuesday. Mark Tomasz, originally from Perth, is now CEO of Keystart, after spending 19 years with HSBC. Tomasz was most recently based in Hong Kong and was global head of business management and COO, […]

The post HSBC COO in Hong Kong returns to Australia to join home loan lender as CEO appeared first on Asian Private Banker.

While many private banks in Asia are preoccupied with aggressively expanding relationship manager (RM) headcount, HSBC Global Private Banking’s (HSBC GPB) Lok Yim has other priorities. HSBC GPB, Asia’s second-largest private bank by AUM and third in APB Insights‘ RM league table, has lost some heavyweight bankers in recent months when other banks have announced ambitious headcount targets. Bryce Wan and Edwin […]

The post Hiring? Not yet. Lok Yim’s priorities for HSBC GPB Asia lie elsewhere appeared first on Asian Private Banker.

With the announcement that UBS’s Iqbal Khan will be dispatched to Asia with the new title of president of Asia Pacific and co-head of GWM globally, all eyes are currently on the region’s biggest private bank. One of Khan’s major challenges will be retaining staff at the Swiss giant, which boasts an army of around 1,100 relationship managers (RMs) in […]

The post Movers & Shakers – May 2024: Which banks could gain from UBS’s pain? appeared first on Asian Private Banker.

HSBC plans to fivefold its investment in Singapore, increase client-facing roles by a third by 2028, and open three new wealth centres in the city-state by Q1 2025. Over the past five years, HSBC has doubled its tech investments in Singapore to enhance customer experiences across mass market, affluent, high net worth, and ultra high net worth, its top executives […]

The post HSBC to skyrocket investment in Singapore to lure private wealth appeared first on Asian Private Banker.

Lok Yim is a rare species in Hong Kong. In more than two decades as one of the city’s top private bankers, he has never opened an account with HSBC, the territory’s biggest lender. While that has recently changed, with Yim just over six months ago taking the helm of HSBC Global Private Banking (HSBC GPB) in Asia Pacific, it […]

The post “We underestimate our strengths”: Lok Yim on HSBC GPB’s plan for Asia domination appeared first on Asian Private Banker.

It is no secret that the key to success as a private banker in Asia is your network. But increasingly that concept has spread to the digital age, with the region’s top relationship managers, market heads and executives all seeking to expand their influence on social media. That is most evident on LinkedIn, the world’s largest professional network, which is […]

The post Influencer power list: The private bankers you need to follow on LinkedIn appeared first on Asian Private Banker.

HSBC Group CEO Noel Quinn is to retire after almost four decades at the UK-based bank, which reported a muted performance in 1Q24 for its wealth and personal banking (WPB) business. The bank said in a statement on Tuesday that its board has begun “a formal process to find a successor, considering both internal and external candidates”. Quinn, who has […]

The post Noel Quinn to retire from HSBC amid tough quarter for WPB unit appeared first on Asian Private Banker.

After years of false dawns, India’s wealth management industry in 2024 has all the vital ingredients for success: a China-beating 6.5% growth rate minting legions of new millionaires, a booming stock market, companies going global in a hurry, and a pro-business government about to win a fresh mandate from voters. All this growth is fueling one of modern history’s greatest wealth-creation […]

The post US$270bn opportunity: Why India’s wealth managers are upping their game appeared first on Asian Private Banker.

The current HSBC Global Private Banking (GPB) Hong Kong head is set to join an international school in a senior role, Asian Private Banker can reveal. Bryce Wan, the Hong Kong market head for HSBC GPB, who is set to leave the bank at the end of the month, will join Harrow International School in Hong Kong soon, according to […]

The post HSBC GPB’s Hong Kong market head to leave private banking and join new sector appeared first on Asian Private Banker.

In 2023, discretionary portfolio management (DPM) industry conversations were dominated by the topic of how to get clients out of cash and put their money back to work. Meanwhile, much time and energy was spent promoting sustainable investments (SI). Amid all the chatter, have banks managed to increase their Asia DPM penetration? And have more funds really been directed towards […]

The post Asia 2023 DPM and SI League Table: Sustainable investments break US$1 trillion, while DPM penetration stays stuck in the mud appeared first on Asian Private Banker.

2023 was a year that saw an intense war for talent among private banks in Asia Pacific. The merger of UBS and Credit Suisse formed the region’s largest private bank, allowing the banking behemoth’s competitors to woo ex-Credit Suisse bankers left adrift amid the fallout. Now the dust has settled – and taking a close look at the hard data – […]

The post Asia 2023 RM Headcount League Table: PB headcount edges higher amid industry shakeup appeared first on Asian Private Banker.

HSBC Global Private Banking (GPB) was close to being the largest private bank in Asia until the two Swiss giants, UBS and Credit Suisse, merged last year. Following HSBC’s recent inaugural Global Investment Summit (GIS) in Hong Kong, Annabel Spring, global CEO for GPB and Wealth, shared the bank’s secret weapons in aspiring to be Asia’s leading private bank. “We […]

The post It’s not all about AUM: Annabel Spring on HSBC’s aspiration to be Asia’s leading private bank appeared first on Asian Private Banker.

Hang Seng Bank, one of Hong Kong’s biggest regional lenders, has appointed a new private banking head from parent company HSBC. Rachel Wei has joined Hang Seng as head of private bank and trust services this week, according to her personal LinkedIn page. Before moving to Hang Seng, Wei worked at HSBC in various businesses for several years. In 2018, […]

The post Hong Kong’s Hang Seng appoints PB head from HSBC appeared first on Asian Private Banker.

HSBC Global Private Banking (GPB) will soon wind down its external asset management (EAM) business in Singapore just three years after launching it, multiple people familiar with the matter told Asian Private Banker. Led by Peter Lee, head of independent asset managers (IAM) for Southeast Asia, the team had about two RMs, the people said. The people added that the […]

The post HSBC GPB to wind down EAM business in Singapore appeared first on Asian Private Banker.

With interest rates set to fall this year and rising DPM interest from private bank clients, private bankers at Asian Private Banker‘s DPM Leaders Conversation 2024 revealed some of the new solutions they are pitching to clients that are currently heavy on cash. BNP Paribas Wealth Management, UBS Global Wealth Management (UBS GWM), HSBC Global Private Banking and Wealth, and […]

The post DPMLC 2024: How private banks are tailoring DPM solutions as rates fall appeared first on Asian Private Banker.

Singapore lender OCBC has hired a senior banker from HSBC Global Private Banking (HSBC GPB) to drive the expansion of its premier client service, Asian Private Banker can reveal. Claire Goh has recently joined OCBC as head of Premier Private Client (PPC), reporting to Bob Ng, head of personal and premier banking Singapore, people familiar with the matter said. Goh […]

The post OCBC hires HSBC GPB veteran to bolster premier client segment appeared first on Asian Private Banker.

With over 42,000 LinkedIn followers, James Cheo is one of the top voices on LinkedIn within the private banking industry in Asia. His popular musings on the platform range from the wisdom of Albert Einstein, to lessons from his upbringing in Singapore, to the economics of Taylor Swift. Currently HSBC Global Private Banking and Wealth’s Southeast Asia and India CIO, […]

The post Meet Asia’s private banking King of LinkedIn, HSBC’s James Cheo appeared first on Asian Private Banker.

While the hiring landscape in private banking calmed slightly in February, this lull was then offset by reshuffling within the industry, particularly at HSBC and Citi. Citi’s new structure  As Citi’s CEO Jane Fraser tries to control costs and profitability, a number of HNW-focused personnel depart across its key Hong Kong and Singapore hub under the codename “Project Bora Bora.” […]

The post Movers & Shakers – February 2024: HSBC, Citi restructure as talent war cools appeared first on Asian Private Banker.

HSBC Global Private Banking (GPB) has announced leadership changes for North Asia, Asian Private Banker can reveal. Subjecting to regulatory approval, Bryce Wan, market head for North Asia, will become market head for Hong Kong in April, according to an internal memo seen by Asian Private Banker.  Rachel Wei, who was previously appointed Hong Kong market head in 2018, will take […]

The post HSBC GPB reshuffles North Asia leadership appeared first on Asian Private Banker.

HSBC’s wealth and personal banking (WPB) unit raked in a more-than-double increase in profit before tax for FY23, boosted by higher interest rates and a revamp of its international proposition. In addition, the British lender attracted US$84 billion of net new invested assets within WPB and saw an increase in WPB new-to-bank international customers in Singapore of 76% YoY. In […]

The post HSBC’s wealth business enjoys bumper 2023 on higher interest rates appeared first on Asian Private Banker.

2023 marked a defining year for HSBC’s retail wealth business, according to Jenny Wang, whose team shapes the wealth product proposition and strategies, plus oversees branding for HSBC Premier, catering to mass affluent customers and the broader mass market segment. Describing the year, Wang emphasised it as a “stellar year for execution and results”, without disclosing specific figures. “What I […]

The post HSBC woos affluents with swift product launches and exclusive CIO content appeared first on Asian Private Banker.

From the reshuffling of leadership roles across the private banking industry to wholesale changes in the competitive landscape, 2023 was characterised by heavyweight hirings in Asia Pacific. The Credit Suisse-UBS merger resulted in many of the former’s bankers jumping ship, creating some of the most impactful appointments of the year. From long-time Credit Suisse heavyweight Jin Yee Young joining UBS via Deutsche Bank […]

The post The biggest Hong Kong, Singapore private bank hires of 2023 appeared first on Asian Private Banker.

HSBC Hong Kong has launched a new debit card for Global Private Banking (GPB) clients in the city. Being the first debit card dedicated to catering to the needs of private banking clients in Hong Kong, the new HSBC Global Private Banking Mastercard Debit Card and Supplementary Debit Card will seek to provide GPB clients in Hong Kong with a […]

The post HSBC Hong Kong rolls out new debit card for private banking clients appeared first on Asian Private Banker.

HSBC Asset Management (HSBC AM) has named a fixed income veteran as CIO for Asia, the firm said on Monday. Michael Cross, who currently serves as HSBC AM’s global CIO for fixed income, has been appointed to the expanded role of CIO for Asia. He will be based in Hong Kong and continue to serve as global CIO for fixed […]

The post HSBC AM appoints fixed income veteran as CIO for Asia appeared first on Asian Private Banker.

Interest rates, China and sustainability are among the topics that will be top of mind for private bankers in the region next year, according to leading CEOs who took part in Asian Private Banker’s Final Word 2023. The year in review project, which collects the insights and views of private banking and wealth management leaders, covers trends ranging from investments, […]

The post Final Word 2023: What is keeping private bank CEOs up at night? appeared first on Asian Private Banker.

Asian Private Banker is proud to present its inaugural Women in Wealth Management report. In this report, we sought to identify, analyse and celebrate companies that are paving the way when it comes to supporting the valuable and unique role that women play in the regional industry. For the first time, industry practitioners have access to granular details on the […]

The post Women in Wealth Management: Three key takeaways appeared first on Asian Private Banker.

Standard Chartered Private Bank has added a new Greater China market head, Asian Private Banker can reveal. Sidney Wang will be joining Standard Chartered PB as one of the Greater China market heads sitting in Hong Kong, according to people familiar with the matter. Wang will report to Peter Tung, head of Greater China & North Asia for Standard Chartered […]

The post Standard Chartered PB hires HSBC veteran to fill new Greater China market head role appeared first on Asian Private Banker.

Hong Kong home-grown bank Hang Seng Bank is looking for a new head of private banking, as the current head will soon return to HSBC. Alison Law, who joined Hang Seng Bank two years ago as head of private banking and trust services, is set to move back to parent company HSBC as global head of distribution for HSBC Life, […]

The post Who could be the new head of private banking? This regional bank is looking appeared first on Asian Private Banker.

Private banks in Asia reported strong performance across the board in 3Q23, on the back of increasing revenues and positive net new assets. Below, Asian Private Banker breaks down how the region’s banks performed this past quarter. Retail-linked banks HSBC Wealth and Personal Banking (WPB)’s revenue jumped 71% from the previous year, reaching US$6.7 billion in 3Q23. Net new money […]

The post Private banks report strong APAC performance, positive asset inflows in 3Q23 appeared first on Asian Private Banker.