To celebrate its 75th anniversary in Asia, HSBC Trustee is partnering with the South East Asia Rainforest Research Partnership (SEARRP) to plant 7,500 dipterocarp tree seedlings in Sabah, Malaysian Borneo and will track the environmental impact of the initiative over the next five years.
The tree planting initiative is part of the Sabah Biodiversity Experiment, a large-scale research project which aims to provide an evidence base for the restoration of rainforest – one of the most pressing issues facing the tropics. The experiment has involved the planting over 150,000 indigenous trees on a site covering 500 hectares in Sabah, Malaysian Borneo – in an area of rainforest which supports many of Borneo’s iconic species including the orangutan, clouded leopard, sun bear and pygmy elephant. The Partnership with HSBC Trustee will not only restore a large, additional area of degraded rainforest and sequester thousands of tonnes of carbon, but the results from the associated experiments will guide and inform future restoration practices in the context of climate and environmental change.
Siew Meng Tan, Regional Head, HSBC Global Private Banking Asia Pacific, says, “Technological, environmental, generational and social changes are defining the future of wealth and legacy planning. Many clients recognise that their wealth is not measured purely by its monetary value but by the positive change it can bring. The sponsorship shows our commitment to building a sustainable future together with our clients, which is at the core of our business.”
“For 75 years, HSBC Trustee has been the partner for sustaining our clients’ family wealth and legacy. Being one of the longest serving private client trustee businesses in Asia, we understand clients’ evolving needs. With the Group’s commitment to developing the Asian Wealth business, we look ahead to forging stronger bonds with entrepreneurs and families and helping them achieve their long-term ambitions.”
Integral to HSBC Global Private Banking, HSBC Trustee has been working with families around the world particularly in Asia for 75 years to build bridges across generations of wealth. HSBC Global Private Banking’s ambition is to become the world’s leading private bank for Asian, international and HSBC-connected clients. Meeting the needs of the UHNW segment is instrumental to HSBC Global Private Banking achieving this ambition.
Brent York, Global Head of Trust and Fiduciary Services, HSBC Global Private Banking, says, “HSBC Trustee understands the needs of business owners and entrepreneurs go beyond simply managing their wealth to ensuring future sustainability and growth. With HSBC’s global footprint and strong cross-bank collaboration, we are able to connect our Trustee clients to the Group’s world-class investment expertise and extensive corporate and investment banking resources.”
As of 30 June 2021, HSBC Trustee’s client assets under administration total over USD200 billion, with over 2,000 trust structures, employing over 300 employees globally and providing services from Hong Kong, Singapore, Delaware and New York in the US, and Jersey in the Channel Islands.
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