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 LeungPritash MathurHsien Sheng Wong, CFARowan Tan#HSBC#GPB#UHNW#BeyondPrivateBanking
Head of Global Private Banking, South and Southeast Asia
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#WealthManagementhttps://lnkd.in/g5HRU7zE
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#WealthManagementhttps://lnkd.in/g5HRU7zE
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
Only put off until tomorrow what you are willing to die having left undone.
HSBC Mulls Over Segment Realignment as a Step Toward Cost Efficiency
Summary:
HSBC Holdings is considering a merger between its Commercial Banking and Global Banking and Markets divisions in an effort to reduce costs and improve operational efficiency. The new CEO, Georges Elhedery, is taking steps to streamline operations and enhance the overall performance of the company. This news, first reported by Bloomberg, highlights HSBC's commitment to cost efficiency and effectiveness in a highly competitive market.
Take Action Now to Avoid the Fear of Missing Out!
As an experienced investment advisor, I encourage you to seize the opportunity presented by HSBC's potential segment realignment. By staying informed and proactive, you can make the most of your Health Savings Account (HSA) investments. Don't wait until tomorrow to act – start exploring the possibilities today!
Investing in your HSA offers significant advantages, including tax benefits, compounding growth, and the ability to cover healthcare expenses in the future. By staying ahead of the game and aligning your investments with promising opportunities like HSBC's reorganization, you can ensure a brighter financial future for yourself and your family.
Don't let the fear of missing out hold you back. Take charge of your financial health and invest wisely in the healthcare sector. By staying active and engaged in this ever-evolving industry, you can benefit from the growth and stability it offers.
Remember to use the hashtags #hsa#investing#healthcare#health#family#wellness to join the conversation and stay connected with others who share your passion for smart investing. Add empowering emojis to your posts and inspire others to take action towards financial success.
Let's embrace the potential of HSBC's merger and make the most of our HSA investments. Act now and unlock a wealth of opportunities!
HSBC Mulls Merging Commercial, Investment Bank to Cut Costs
"HSBC executives have considered a tie-up of the commercial and global banking divisions in the past, but the proposal was previously met with heavy internal resistance and former HSBC CEO Noel Quinn was opposed to the idea. Quinn, who rose through the ranks of the commercial bank, has previously argued that combining the coverage teams of the two divisions would be too disruptive After Quinn’s departure earlier this month, the idea is being given a fresh look as the company hunts for ways simplify its business.
The combined unit would be home to about 92,125 employees in total, though some executives believe the tie-up could allow the bank to eliminate some duplicative back office roles."
https://lnkd.in/dwX2wFkQ#wealthmanagement#banking#financialservices
From facilitating conversations and scaling technology at work to swimming against the tide at leisure, our CEO Annabel Spring discussed our mission and growth targets with Professional Wealth Management (PWM)'s Yuri Bender in a recent interview.
With our ambition to be the leading wealth manager in Asia, she further talked about how we invest in people and infrastructure to serve the wealth management needs of our retail wealth and private banking clients globally.
Read the full article here: https://grp.hsbc/6044lO2ma#PrivateBanking#WealthManagement#AsiaWealth
HSBC Considers Merging Commercial and Investment Banking Divisions
HSBC's new CEO, Georges Elhedery, is considering combining the bank's commercial and investment banking divisions as part of his strategy to streamline operations and reduce costs. This potential restructuring could have significant implications for the banking industry.
Key facts:
- The combined division would become HSBC's largest revenue generator, contributing around $40 billion annually.
- The merger would bring together a workforce of over 90,000 employees.
- In 2023, the commercial banking division posted a profit before tax of $13.3 billion, while the global banking and markets arm brought in $5.9 billion.
- This move follows similar restructuring efforts by competitors like JPMorgan, which combined its commercial and investment banking divisions earlier this year.
- Elhedery's focus on cost reduction comes as central banks worldwide begin to cut interest rates, potentially impacting the margins of global lenders.
The potential merger of HSBC's commercial and investment banking divisions raises an important question for incumbent banks: In an increasingly competitive and evolving financial landscape, how can banks effectively restructure their operations to optimise efficiency, reduce costs, and maintain a competitive edge?
As the industry continues to face challenges such as changing interest rates and the need for digital transformation, banks must carefully consider their organisational structures and strategies to remain agile and adaptable. HSBC's potential move highlights the importance of continuously evaluating and adjusting business models to meet the demands of the modern banking environment.
Source: Bloomberg
#hsbc#digitaltransformation#restructuring#banking
🔥 Breaking News: Viswas Raghavan Takes the Helm at Citigroup 🔥
💼 Heading to New Horizons: Accomplished Veteran Joins Citi's Banking Division 💼
🌍 Citi Enlists Experienced JPMorgan Leader to Propel Multinational Client Services 🌍
Summary:
Citigroup has made an extraordinary move by welcoming aboard banking expert Viswas Raghavan as its new head of banking. This strategic acquisition aims to breathe fresh life into Citi's multinational corporate division, drawing on Raghavan's extensive experience from his time at JPMorgan.
With CEO Jane Fraser expressing great confidence in Raghavan's capabilities, Citi is poised to position itself amongst the global financial elite. The bank's ability to attract top talent underscores its commitment to providing superior services to both domestic and international clients.
As an investment advisor, I can't help but draw a parallel between Citi's foresight and your investment decisions. Just like Citi, you have the potential to tap into unmatched opportunities for growth and security within your Health Savings Account (#HSA). By investing strategically in healthcare, you can unlock the true potential of your #health, #family, and overall #wellness.
Don't let the Fear of Missing Out (FOMO) dictate your investment journey. Take action today and seize the chance to grow your HSA through smart investment choices. Together, we can build a pathway to financial success and create a future where your investments work hard for you.
Join me in this adventure, and let's navigate the world of investing in healthcare with confidence, knowledge, and determination! 💪📈 #investing#hsa#healthcare
#ICYMI: HSBC Singapore to grow share of international wealth management customers
Read the full article: https://bit.ly/3xfisOQ
In an exclusive interview, Ashmita Acharya, head of wealth and personal banking at HSBC Singapore, unveiled the bank’s ambitious plans to be the leader in wealth management for affluent and ultra-high-net-worth (UHNW) individuals. The bank will emphasise investments in technology, infrastructure, and strategic hires to fortify in-house capabilities and expertise. It will also enhance its product and distribution capabilities.
Acharya detailed the bank’s strategy, stating: “We have embarked on a journey where significant investments in technology, human resources, and our physical network are pivotal. Our three new wealth management centres, to be integrated into our branch network by the first quarter of 2025, exemplify our commitment to providing top-tier service and infrastructure.”
HSBC Singapore has attracted key industry figures such as former UBS private bankers Tommy Leung, who was appointed as global head of private banking for South Asia, and Kerri Lim, head of UHNW Asia. Pang Qi Lim, formerly from Fidelity, is now leading HSBC Asset Management as CEO and head of strategic partnerships in Southeast Asia, as well as CEO of strategic partnerships in Singapore.
The acquisition of AXA Singapore and integration into HSBC Life, as well as the purchase of Silk Road, a firm specialising in real estate investments, illustrate HSBC’s aim to bolster its product offerings directly.
In a separate media briefing, HSBC Singapore CEO Kee Joo Wong highlighted the significance of Singapore in HSBC’s global operations, positioning the city-state as a wealth hub in HSBC’s international network.
“Singapore’s role as a nexus for wealth creation and management in Asia is undeniable. Our investments here reflect our commitment to tapping into the growing wealth in the region,” Wong stated, underscoring the importance of Singapore’s location and stable economic environment as key factors in attracting international wealth.
In 2023, international clients accounted for about 40% of HSBC Group’s total wealth and personal banking revenue and contributed to 76% year-on-year growth in new-to-bank customers in Singapore.
Geraldine Y., Janice Chen, Desiree Chua, Andrew Low, Belin Poh, Evelyn Bin, Han Lee, Jeremy Ong (CAMS), Nazneen Hussain, Neeraj Jha, Ankit Sarda, Harshal Katakia, Sukumaran Balasubramaniam, Rishabh Chugh, Luiza Barros, Ruth N., Karan Rastogi, Nikhil Agarwal, Jyoti Dhingra, Manpreet Singh, Jaswinder Sodhi, Vishal Dwivedi, Kumar Ujjwal, Cheetal Surolia, Veronika LuginaFoo Boon Ping 胡文彬, TAB Global#WealthManagement#HSBCSingapore#InternationalBanking#HighNetWorth#WealthTech#StrategicAcquisitions#InvestmentBanking#FinancialServices#WealthHub#CrossBorderBanking#AssetManagement#PrivateBanking#WealthCentres#BankingInnovation#AffluentClients#TheAsianBanker#TABGlobal
The evolution of the needs of SMBs and corporates’ treasury management presents an opportunity for banks to differentiate themselves by offering new, more comprehensive and sophisticated services. Enabling these new offerings requires a modern transaction platform that can deliver a consistent client experience, while being flexible and capable of delivering tailored solutions.
Please learn what are the sought-after characteristics of such a platform in this EY article co-authored by the Head of Strategic Liquidity Solutions, Transaction Banking at Goldman Sachs.
#EY#GoldmanSachs#Liquidity#Treasury#SMBs#Corporates#modernbankingplatform
Bain financial services partners Nishma Gosrani and Carsten Baumgartner spoke to The Banker for its cover feature on how changing generational attitudes are transforming the talent landscape in wholesale and investment banks – issues explored in Bain’s recent study of key developments in wholesale banking.