HSBC’s Post

Few days ago, we have had the privilege of hosting Frank Fang for an intimate, free-flowing discussion. He was kind enough to expound on our strategic priorities, particularly for North Asia, and also candidly share his own personal ones in 2024 and beyond.   2-Pillars, 3-Platforms : This is a unique advantage for HSBC - probably the only bank having deep ties in 2 #homemarkets - UK & Hong Kong. How do we build on top of it? By focusing on 3-platforms, namely: - International #midmarket  - International #wealth - International #transactionbanking  *See anything common in here (starting with “i”), which aligns completely with our current global approach of #ConfidentlyInternational   It was personally exciting for me that our #GlobalPaymentsSolutions (GPS) business continues to play a top-priority role for the bank, in that strategic construct above.    #hongkong: We got to know on how we are further internationalizing using our market leading proposition, while simultaneously connecting our clients to/from mainland-China. We also discussed on the importance of focusing on #corridors and how we in Singapore are also replicating #datadriven best-practices, being implemented by our teams in Hong Kong, particularly in GPS.   #hongkong & #singapore : While much has been written about the friendly competition, fact is - it is a good thing for our #clients, for both markets and particularly for HSBC, with our ability to connect our home market with our focus on Singapore/ASEAN. Fun fact - Singapore is the #4 source of #fdi into Hong Kong.    Thanks Li Lian Ng for hosting the session (+ for that illuminating fact), and to all participants for making this a memorable one.    Amanda Murphy, Priya Kini, Yvonne Yiu, Noor Al Adhami, Manoj Dugar, Winnie Yap Harish Venkatesan Shirley Leong Anna Chu   Rui Xiang Tan Priscilla Teo Jane Ho Ashlyn Lim Patrick Kiu Anurag Zutshi Lani B. Sabrina Say Penny Quek Glenda Wong Sammi Xu Andy Siew Johnathon Yeo Bobbie Y. Keith Chew

The opportunities for credit trading in APAC only seem to be growing, based on volume numbers and anecdotal evidence.

Top UBS Executive Iqbal Khan to Make Hong Kong His Home Base New Role and Location: + Iqbal Khan is set to relocate to Hong Kong + He will have a dual role as leader of UBS's Asia operations and co-head of global wealth management Flexible Base: + Primary home base will be in Hong Kong + Will also have a residence and dedicated office in Singapore + Likely to split time equally between Hong Kong and Singapore Strategic Importance: + Reflects the importance of both financial centers for UBS + Hong Kong remains Asia's capital-market hub and popular for Chinese wealth + Singapore is growing in prominence, attracting investment flows from across Asia-Pacific and globally Timeline and Context: + Khan is scheduled to move to Asia in the next few weeks + Part of a broader leadership shakeup at UBS + Khan and Robert Karofsky (appointed to run UBS's US business) are seen as key contenders to succeed CEO Sergio P. Ermotti Strategic Goals: + Move highlights Asia's significance in UBS's goal to reach $5 trillion in wealth assets under management + Aims to focus on fast-growing markets Challenges: - UBS faces difficulties in convincing ultra-rich clients to invest in Greater China due to economic slowdown and policy uncertainties This move underscores UBS's commitment to the Asian market and its strategic importance in the bank's global wealth management operations, while also positioning Khan as a potential future CEO candidate. #UBS #Growth #Expansion #Asia #WealthManagement #Business #Investment #HongKong I Bloomberg News I Chanyaporn Chanjaroen I Laura Noonan, I Ambereen Choudhury I Jan-Henrik Förster I Denise Wee I Cathy Chan I Jeffrey Black I Brand Hong Kong

Some potentially useful insights for Australian companies seeking expansion into faster growing Asia markets, with focus on business model (including sourcing), funding, and of course getting your hard earned cash back!

Bank of Singapore, Asia's Global Private Bank (BOS) is undergoing a significant transformation under CEO Jason Moo's leadership, aiming to become the top Asian private bank within the next three to five years. Benefiting from Singapore's thriving wealth management market, BOS, part of OCBC Group Wealth Management, is well-positioned with S$263 billion in assets under management. As generational wealth transitions accelerate, BOS targets growth in the single-family office sector, leveraging its established market presence. Traditionally, Asian wealth favored European and American banks, but BOS aims to provide differentiated solutions tailored to evolving client needs. Strategic initiatives include enhancing asset allocation, raising the minimum client sum to S$5 million, and fostering collaboration within the OCBC Group to offer comprehensive wealth services. Management changes, operational enhancements, and strategic hubs in Singapore, Hong Kong, and Dubai underscore BOS's commitment to transformation. #Growth #PrivateBank #PrivateWealth #FamilyOffice #WealthManagement #Innovation #Transformation #Business #Singapore #Leadership I The Straits Times I SPH Media I Su Shyan Lee

Alvin Lee, CEO of Maybank Singapore, discussed the bank's strategic initiatives, its role as a regional hub, and the importance of a value-driven approach to wealth management. Appointed CEO of Maybank Singapore in January 2024, Lee is leading the bank with a clear vision for its wealth management business. During a wide-ranging interview, he emphasised the increasing demand for wealth management services in the region due to rising affluence and globalisation. “Asia and ASEAN have seen significant growth, making wealth management a logical focus for us,” he noted. Singapore, with its conducive infrastructure and tax regimes, serves as the ideal hub for Maybank’s regional wealth management operations. Lee outlined the strategy for strengthening Maybank’s presence in the Malaysia-Singapore corridor and beyond, focusing on comprehensive products, consistent positive returns, and exceptional service. He stressed the importance of a strong IT platform and the role of talented, skilled professionals in delivering these services. “Banking, especially wealth management, is still very much a people business,” Lee stated. Maybank’s wealth management business is built around five pillars: creation, accumulation, preservation, purification, and distribution, aligning with both conventional and Islamic wealth management needs. Lee believes that service quality differentiates one bank from another, stating, “Products and solutions can be easily replicated, but a strong service and talent development culture sets us apart.” Look out for more details of this interview on www.wealthandsociety.com. Abigail H., Rahul Sanghvi, Naveen A M, Shawn Kwa, CA MBF Ketan Doshi, Raghavendra Rao Kuppala, Don Carlo Hernandez, CFA, Ricky Antariksa, Chong Ghee Sea, VJ NATCHAMIAH, Soraya Zainal Abidin, Toon Beng Ang, CFA, Deepak Ramchandani, Shahril Azuar Jimin, Cheryl Cheng, Gail Del Rosario, Ridzuan Haji Ishak, Jay Chan Jing Hui, Mario A. Utama Foo Boon Ping 胡文彬, The Asian Banker, TAB Global #MaybankSingapore #WealthManagement #RegionalHub #Value #AlvinLee #ASEANGrowth #FinancialServices #Digitalisation #Sustainability #EthicalInvestment #CustomerFocus #TalentDevelopment #DigitalSolutions #SustainableFinance #FutureProofing

HSBC Private Bank invited #FamilyOfficeHK to speak at the first HSBC Global Expo Annual Conference and 2024 Investment Outlook Seminar on 22 January in Shanghai, China. The event’s participants included high-net-worth individuals, asset owners, and representatives from family offices.   Jason Fong, Global Head of FamilyOfficeHK, delivered a speech on the topic “Hong Kong Family Office: How to Build Succession.” In his speech, he spoke about Hong Kong’s growing influence and importance as a family office and asset management hub in the world. He mentioned that Hong Kong is becoming a location for global family offices to base their operations,  which can be attributed to the Hong Kong government’s recent measures that were designed to attract them to the city. The measures he spoke about include the launch of the Network of Family Office Service Providers; a platform specially designed to help promote Hong Kong as a preferred destination of choice for global family offices. The Policy Statement on Developing Family Office Businesses in Hong Kong, which was issued by the Financial Services and the Treasury Bureau, also sets out other measures that have recently been implemented to bolster the city’s vibrant family office ecosystem. That includes tax concessions for family offices, the establishment of the Hong Kong Academy for Wealth Legacy, which will provide a structured networking platform with a unique identity for family offices, next-generation wealth owners, and industry practitioners, and the updated Capital Investment Entrant Scheme (CIES), which will further enrich the talent pool and attract more new capital to Hong Kong. FamilyOfficeHK looks forward to further working with HSBC Private Bank to promote Hong Kong as a leading hub for global family offices to thrive in Asia and beyond. #InvestHK #FamilyOfficeHK #HSBC #HSBCPrivateBank #UHNWI #AssetManagement #CIES

HSBC has just launched a USD1 billion ASEAN Growth Fund in six of the fastest growth countries in ASEAN, to help scale up platform players in the region’s booming digital economy. In addition to the launch, we also surveyed 600 companies operating in Southeast Asia and found that “digitalising operations” is a key business priority, selected by 55% of Malaysian respondents and more importantly, we also see 82% of the respondents planning to increase their investment in the digitalisation of their businesses in ASEAN. Rapid digital adoption in ASEAN means businesses increasingly require fuss-free digital banking to support their growth. They want convenient and simple-to-use trade and payment solutions that would free up more time for them to focus on strategy and expansion and that’s where HSBC is, at the forefront of driving digital innovation in ASEAN. Read our coverage in The Edge: https://lnkd.in/gyAhDKeB Fintech News Malaysia: https://lnkd.in/gAH5ubz3 Omar Siddiq Amanda Murphy Surendra Rosha Jaya Menon Andrew Metcalfe Madeline Leong Taryn R. Jana Lim Anand Mukati Alex Wrigley Serena S. Christina Cheah Linda Yip Alvin Kong Raja Amir Raja Azwa William Tan Yun Lee T.

Recent market movements have suggested a cautionary outlook in the near term. However, despite the volatility, Singapore’s fundamentals remain steady and could act as a safe haven especially with the growing dividends in the Singapore market. Read our 2024 Singapore Market Outlook as Kenneth Ong, Portfolio Manager delves into the key pillars of growth in the long term: https://lnkd.in/g3PreFHj #LionGlobalInvestors #Singapore #MarketOutlook #SingaporeEquity #AssetManagement

🏦 Hong Kong is quickly becoming the go-to hub for family offices in Asia, with Citigroup noting a pivotal trend: 📈 50% of Asia-Pacific family offices they serve are on the brink of a major succession event within five years. 🌱 These offices are seeking expert guidance on succession and wealth planning, more so than their older counterparts in the West. 🎯 Citigroup is strategically focusing on wealth management in Hong Kong, alongside Singapore, UAE, and London, to cater to the affluent Asian market. This spotlight on Hong Kong comes as no surprise. With favorable tax policies and an abundance of professional talent, the city is not just an investment center but a full-service hub for high-net-worth families looking to navigate the complexities of wealth transfer and investment diversification. Check out the full article by South China Morning Post SCMP here: https://lnkd.in/d8yy8nka #HongKong #WealthManagement #FamilyOffice #FinanceTrends #ventures