HSBC Global Private Banking’s Post

Many ultra high net worth (UHNW) investors face significant challenges when navigating the complexities of managing global assets and diversification needs, especially across multiple markets. Our recent Global Entrepreneurial Wealth Report highlights these challenges and underscores the need for sophisticated wealth management solutions. In a recent feature in The Business Times, Our Head of Global Private Banking, South Asia Tommy Leung, and Head of UHNW Segment, Asia Kerri Lim discuss how our global reach and strength in Asia are pivotal in supporting wealthy families and individuals on their multi-jurisdictional, multi-generational wealth management needs. Read the full article here: https://grp.hsbc/6040WgQsa #WealthManagement #PrivateBanking #AsiaWealth

Macquarie Bank: Key things to know ahead of shift to cashless banking, closure of over-the-counter services in three cities Macquarie Bank will transition to an online only offering as of Monday, going cashless and closing all its physical branches. Read here for the things you will and won't be able to access.

Excited to share that Global Finance has announced the World's Best Treasury & Cash Management Banks 2024 Awards and ANZ Institutional had a clean sweep for Australia apart from Global & Asiapacific awards as below:    Best Bank for Payments - Global   Best Bank for Payments - Asia Pacific Best Bank for Cash Management - Australia Best Bank for Cash Management - New Zealand   The awards reflect's ANZ Institutional's leadership in #cashmanagement & #payments globally due to our cutting edge technology, innovation and infrastructure. Not a surprise that we can now clear the AU leg of international payments in real time using #NPP. We are proud of ANZ Institutional's leadership in the market. Our sincere thanks to our valuable clients for their trust and our teams for all their efforts. https://lnkd.in/gDi8_8XJ  Philippa Campbell Habib Ajaka James Brown Sean Pratt Sean Cherrett Tim Addison Cheryl Law Carolyn Young #Payments #GlobalFinance #CashManagement #InstitutionalBanking #Innovation #Digital #Treasury #Crossborder

Hot Off The Press 👌👌👌 I am delighted to share an exciting news for BNP Paribas Wealth Management in Germany! With the acquisition of HSBC’s #WealthManagement business in Germany, BNP Paribas is taking a significant leap forward. Germany offers strong growth potential for our #WealthManagement activities, most notably within the Mittelstand (German SMEs) and with the German #Entrepreneurs and #Families client segment. Leveraging on BNP Paribas’ diversified and integrated business model, this deal strengthens our presence with complementary regional setups, expanding our network and deepening our coverage in key regions.   This move offers robust growth potential for wealth management activities and enriches the services we offer to our clients, from affluent to #UHNW segments, by combining the strengths of both BNP Paribas and HSBC. I look forward to seeing our teams work together to deliver unparalleled value to our clients, reinforcing our #OneBank model.   https://lnkd.in/epSG5KgE   #InternationalMarkets #WealthManagement #Growth   Vincent Lecomte Lutz Diederichs Virginie Delaunay Rachida Tournier Michael Arends Marcel Becker Jérôme Tournigand

Thrilled to announce a major step in our journey to strengthen BNP Paribas Wealth Management’s presence in Germany.   The acquisition of HSBC’s Wealth Management activities in Germany positions us as one of the top players in the market, with over €40bn in AuM. This transaction is a perfect fit, given the strong alignment in culture, business model, and regional presence. It will enable us to expand both our relationships with new clients and consolidate our position in the #Eurozone especially within the Mittelstand (German SMEs) and with German #Entrepreneurs and #Families clients.   As I recently shared in my interview with Handelsblatt, Germany is our top priority for growth, and we are committed to leveraging our #WealthManagement expertise to support the long-term needs of entrepreneurial clients, leveraging on the strong networks of the Group to both address their personal and corporate needs.   We are especially excited about the opportunity this presents to strengthen our relationships with clients and expand our dedicated teams. Clients will see keen benefits through #WealthManagement’s international network and benefit from all the capabilities of our diversified and integrated model such as Global Banking and Global Markets.   Together, we will continue delivering exceptional service and innovative solutions to meet the sophisticated needs of our clients.   https://lnkd.in/e5sBxnzy   #WealthManagement #EuropeanGrowth #GermanMarket   Lutz Diederichs Renaud Dumora Yannick Jung Pierre Ramadier Virginie Delaunay Rachida Tournier Michael Arends Marcel Becker Jérôme Tournigand Beat Bachmann Frank Vogel Liane Santenero Rainer Hohenberger

As wealth becomes increasingly global, so do the complexities our clients face—whether it's navigating succession planning, managing assets across multiple jurisdictions, or adapting to volatile markets. It’s moments like these where having a trusted partner with both local expertise and global reach becomes critical. What excites me most about our work at HSBC is the ability to offer truly bespoke solutions. No two clients are the same, and our team is dedicated to understanding each individual’s unique challenges and opportunities. From Asia to Europe, and everywhere in between, we bring the best of HSBC’s extensive global network to offer our clients unparalleled access and ensure that their wealth is protected, grown, and passed on seamlessly to the many generations to come. We look forward to continuing this journey with our clients—helping them navigate today’s challenges and seize tomorrow’s opportunities. #HSBCSingapore #GPB #UHNW #WealthManagement https://lnkd.in/g5HRU7zE

DBS Bank banks “more than a third” of Singapore’s family offices, and these high-net-worth individuals are drawn here not just from North Asia but from “all around the world”, says Shee Tse Koon, group executive and group head of DBS’s consumer banking group and wealth management. Speaking at the Wealth Management Summit Asia on March 14, Shee says 76% of client growth recorded by DBS Private Bank over the past two years came from global clients, including those in South Asia, the Middle East and Europe. In June 2023, Singapore’s largest bank by assets claimed it banks a third of Singapore’s 700-odd family offices then. It appears DBS has maintained this proportion of clients, even as the number of family offices here has risen to “an official number” of 1,100, as Shee puts it. Shee acknowledged that some family offices could just be hoping to obtain Singapore citizenship or permanent residence here. “Certainly that is one potential area, but a lot of that is about tapping into the growth of Asia and doing things in a much more professional way — looking at legacy planning, the transition of wealth from one generation to another.” Read the full story on The Edge Singapore.

🔴 Breaking news! Deutsche's private bank successfully reduces expenditure on external consultants by a whopping 70%, as reported by the Financial Times. This strategic move not only showcases the bank's commitment to streamlining operations but also emphasizes a focus on in-house expertise and talent. A remarkable achievement, signifying a bold step towards efficient resource allocation and sustainable growth. #DeutscheBank #FinancialTimes #CostSavings https://ift.tt/tNbl0g3

Bank of Singapore Closes Luxembourg Office: In a move to recalibrate its business strategy in Europe, the private banking arm of OCBC is closing its office in Luxembourg to focus instead on London, finews.asia has learned. #BankofSingapore #OCBC

With wealth becoming more geographically dispersed and cross generations, our client needs are increasingly multi-faceted. Having clients at the center of what we do – understanding their needs, concerns, aspirations, and work across the global franchise to deliver the right relevant solutions, is key. We look forward to growing these partnerships with our clients. Tommy Leung Pritash Mathur Hsien Sheng Wong, CFA Rowan Tan #HSBC #GPB #UHNW #BeyondPrivateBanking