HSBC today announced the launch of the 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 strengths1 of HSBC Global 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 investing2.
Siew Meng Tan, Regional Head of HSBC Global 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."
Antony Shaw, Global Head of Emerging Markets and Wealth Sales, HSBC Markets and Securities Services, says, "By working alongside HSBC Global 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."
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 generation3.
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.
Leveraging HSBC's Investment Banking franchise
HSBC Global Banking and Markets (GBM) delivers a full range of banking capabilities including financing, advisory and transaction services, a markets business that provides services in credit, rates, foreign exchange, equities, money markets and securities services, and principal investment activities.
The business boasts of the best-in-class Emerging Markets FX and Rates coverage in Asia-Pacific and the #1 Equity Research team for Asia. It is the leading international bank for RMB products and services in the region, with one of the largest RMB networks. It has also ranked as #1 underwriter for 11 consecutive years in Asia ex Japan G3 debt capital markets, and supports Asian clients across a broad range of sizes, sectors and geographies, raise capital in the public equity markets.
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Note to editors:
1 HSBC Global Private Banking is named Best Wealth Planning Services by Asian Private Banker in 2020 and Best UHNW team by WealthBriefingAsia Greater China Awards in 2021. ↩
2 HSBC is named World’s Best Bank for Sustainable Finance and Asia’s Best Bank for Sustainable Finance by Euromoney in 2020. ↩
3 Source: A Generational Shift, Family Wealth Transfer Report 2019 – Wealth-X. ↩
The Hongkong and Shanghai Banking Corporation Limited
The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of USD2,959 billion at 31 March 2021, HSBC is one of the world’s largest banking and financial services organisations.