HSBC Bank China has launched its Global Private Banking business in Shenzhen, expanding its wealth management footprint in the Guangdong-Hong Kong-Macao Greater Bay Area (“GBA”). With HSBC’s full-service capabilities in the GBA and the strengths of its global connectivity, HSBC Global Private Banking will provide a comprehensive range of bespoke wealth solutions to meet the diversified wealth needs of high-net-worth (HNW) and ultra-high net worth (UHNW) clients in mainland China. Including Shenzhen, HSBC’s Global Private Banking business’ presence now covers four mainland cities including Beijing, Shanghai, and Guangzhou. A dedicated team of relationship managers and investment counselors is now fully established to serve clients across all areas in GBA through branches in Shenzhen and Guangzhou. These seasoned wealth teams will meet their increasingly sophisticated wealth management and planning needs, including those of their families and businesses.
HSBC China’s Global Private Banking will also be strategically partnering with the Shenzhen-based HSBC Qianhai Securities Limited, to offer more tailored and diversified securities and asset management solutions under respective business scope for HNW/UHNW clients and family offices. HSBC Global Private Banking manages USD423 billion client assets globally and is part of HSBC’s Wealth and Personal Banking (WPB), one of the world’s largest global wealth businesses, with over 38 million customers and more than USD1.7 trillion in wealth balances. In 2021, HSBC announced its plans to invest over USD3.5 billion and hire 5,000 wealth roles to accelerate the growth of its wealth business in Asia.