Feb 3, 2021 Hubbis
HSBC Private Banking unveiled its new private banking business in Thailand, expanding its wealth management footprint in Southeast Asia.
This latest strategic move demonstrates HSBC’s continued commitment to invest in its wealth and international capabilities with an aim to provide best in class wealth products and services to high net worth (HNW) and ultra-high net worth (UHNW) clients in Asia, HSBC said in a press release.
The new private bank in Thailand is HSBC’s second onshore business in Southeast Asia after Singapore and will provide clients access to international capital markets by leveraging its existing infrastructure of advisory, investment methodologies, controls and systems in Asia. The team in Thailand will cover client management and advisory services while clients’ assets will be booked in HSBC Private Banking in Singapore, a preferred wealth management hub for Southeast Asian HNW individual