HSBC Global Private Banking’s Post

HSBC's CEO, Noel Quinn, is strategically focusing on strengthening the firm’s wealth management presence in China and India to match its success in Hong Kong. Quinn envisions establishing robust capabilities across mainland China, Singapore, ASEAN, and India. Despite challenges like economic uncertainties in China and a real estate slowdown, HSBC's acquisition of Citi’s retail wealth management portfolio in mainland China last year showcased its confidence in the region. Quinn aims to create a comprehensive "platform of four strong pillars of wealth management,” covering insurance, asset management, and private banking. Nuno Matos, global head of HSBC Wealth and Personal Banking, highlighted the rising demand for wealth management services among expat Indians and Indian businesses seeking overseas acquisitions. Greg Guyett, head of HSBC Global Banking and Markets, is actively recruiting seasoned bankers with extensive client networks in key locations like Singapore, Dubai, Riyadh, and Mumbai. Despite hurdles, HSBC reported record-breaking full-year earnings driven by rising global interest rates. #HSBC #Growth #WealthManagement #HongKong #Singapore #India #Business #Finance I Bloomberg I Adam Haigh I Ambereen Choudhury I Yvonne Man I David Ingles I Haslinda Amin

📈 Market Update: HSBC Shines Bright 🌟 HSBC has demonstrated its financial strength and strategic foresight with a notable 3% rise in its Hong Kong share price following a stellar profit performance and a significant share buyback announcement. 📊 In a remarkable turn of events, HSBC's impressive profit beat has not only solidified investor confidence but also underlined the bank's robust financial health. The share buyback initiative further signals the company's commitment to delivering value to its shareholders, reflecting its optimistic outlook on future growth. 🔍💼 This strategic move by HSBC highlights the dynamic nature of global financial markets and sets a strong example of how strategic decisions can positively impact stock performance. 🌍🚀 Stay tuned for more updates and insights on influential business leaders and market trends with EMPIRE Magazine. 🏆 #HSBC #StockMarket #Finance #BusinessLeadership #ShareBuyback #EMPIREMagazine #MarketUpdate

Effective legacy planning is more than just writing a will. It's about ensuring your wealth serves future generations in the ways you intend. Click to read more about the importance of legacy planning below! #HSBCLife #LegacyPlanning #HNW The new HSBC Life Singapore Diamond Prestige IUL offers strategic legacy planning for high-net-worth families. In the landscape of wealth, the true hallmark of prosperity isn’t just in acquiring assets but in effectively passing them on – a practice perfected in legacy planning. This involves more than just writing a will; it’s about ensuring that your wealth serves future generations in the ways you intend, combining financial planning, tax optimisation, and personal values into a coherent strategy that stands the test of time. Click here to learn more: https://lnkd.in/gp2XVGmV #Prestige #PrestigeSG #HSBCLife

🌟 Exciting News in Financial Services! 🌟 JPMorgan Chase (JPM.N) has made strategic moves to enhance its custodial operations in key Asian markets! In a recent announcement, JPMorgan has selected HSBC (HSBA.L) and Standard Chartered (STAN.L) to manage its custody businesses in Hong Kong and Taiwan. With assets exceeding $500 billion, this decision underscores JPMorgan's commitment to delivering exceptional service and operational excellence to its clients in the region. ▪ This strategic partnership comes as part of JPMorgan's initiative to optimize efficiency and streamline operations, aligning with industry trends and evolving market dynamics. By leveraging the expertise and local market knowledge of HSBC and Standard Chartered, JPMorgan aims to enhance its custodial services while focusing on core competencies. ▪The significance of custodial services cannot be overstated, as they play a crucial role in safeguarding investors' securities and ensuring regulatory compliance. Through this collaboration, JPMorgan seeks to strengthen its position in key Asian markets, drive value for investors, and foster long-term growth opportunities. #Finance #Banking #CustodialServices #Partnerships #AsiaFinance #JPMorgan

#ICYMI Bloomberg News Scoop: HSBC, the Asian focused lender, is weighing a marriage of two key divisions which would house a 90,000 strong workforce, sources say. No final decisions have been made and details of any potential restructuring could still change. Commercial banking, which has offerings for small and mid-size businesses in 50 markets, posted a profit before tax of $13.3 billion in 2023, while the global banking and markets arm brought in $5.9 billion.

HSBC has initiated another round of job cuts at its Asia investment bank, responding to a downturn in dealmaking across the region. The London-based lender recently released about a dozen bankers from its Asian investment banking division, aligning with similar actions by competitors like UBS, Goldman Sachs, and Citi. This trend stems from declining stock sales and mergers, particularly affecting HSBC's core markets in Hong Kong and China. Hong Kong's IPO market remains subdued, hitting a two-decade low in proceeds last year. Looking ahead, HSBC's head of global banking and markets, Greg Guyett, anticipates ongoing downsizing driven by technological advancements. Also, the bank is expanding its investment bank in Asia, prioritizing senior hires with strong client relationships in key locations like Singapore and Mumbai. #Growth #HSBC #InvestmentBankers l Bloomberg News l Denise Wee l

When HSBC and Citi were pursuing expansion of their wealth management businesses in Japan, it didn’t go as planned due to the unique characteristics of Japanese Hight Net Worth class — but how are they so different? Learn more. https://lnkd.in/eRPRSVRC #wealthmanagement #assetmanagement #financialservices