HSBC launches new institutional family office service in asia
Access to institutional execution services leveraging HSBC’s leading investment banking capabilities to meet the wealth and investment needs of family offices in Asia.
HSBC have launched a new Institutional Family Office service in Hong Kong and Singapore, which will allow single-family office clients across Asia to access HSBC’s team of investment banking specialists, armed with a full array of financing solutions and product capabilities including institutional market access, prime services and private deals.
The enhanced coverage model combines the well-established family office and wealth planning strengths of HSBC Private Banking with the leading expertise and reach of HSBC Global Banking and Markets. HSBC’s long-standing family office relationships will benefit from the rich and more complex range of solutions and opportunities offered by the investment bank, enabling HSBC to better serve the growing needs and levels of sophistication of family offices.
With increased demand for sustainable investment solutions, Asian families can also explore new and innovative ways to invest sustainably in partnership with HSBC’s investment bank, a leading force in sustainable finance and ESG investing.
Siew Meng Tan, Regional Head of HSBC Private Banking, Asia-Pacific, says, “We are seeing greater interest from Asian clients who are setting up and expanding family offices, to adopt institutional approaches to build continuity, diversification and resilience in their investment portfolios. As wealthy individuals and businesses professionalise the management of their family wealth, we will deliver the full strength of advisory and structuring capabilities in our private banking and investment banking teams to meet our clients’ increasingly sophisticated investment and family needs.”
The number of ultra-high net worth families in Asia is expected to continue to increase in the coming years, and this growth will coincide with a massive intergenerational wealth transfer. In the next decade alone, around USD1.9 trillion of wealth in Asia will be passed on to the next generation.
Antony Shaw, Global Head of Emerging Markets and Wealth Sales, HSBC Markets and Securities Services, says, “By working alongside HSBC Private Banking, we are able to match specific client demand with unique investment opportunities via a wide range of public and private solutions that would usually be available only to institutional clients. Many of these families already have long histories with HSBC’s corporate franchise; it makes sense to extend the fullest range of our investment banking, market access and structuring capabilities to meet their family’s wealth needs as well.”
Driving HSBC’s wealth ambitions
In February 2021, HSBC announced its plans to invest over USD3.5 billion in the next five years to accelerate the growth of its Wealth and Personal Banking (WPB) business in Asia and drive its ambition to become the leading wealth bank in the region.
“We are investing in people and technology as well as in new products and services using our in-house expertise as a global universal bank to deliver a distinctive wealth experience across the full customer spectrum, particularly for high net worth and ultra-high net worth (HNW/UHNW) clients”, Tan added.