Hong Kong celebrity Aaron Kwok was named as HSBC Jade’s brand ambassador as the bank bolsters its push to tap into the wallet share of high net worth individuals in the region.
Locally well known as one of the «Four Heavenly Kings» of Hong Kong’s celebrity industry, Kwok – a singer, dance and actor – is not only renowned in the city but throughout the region.
«[Kwok] has been an HSBC client for 30 years and still counting,» said Brian Hui, HSBC’s Hong Kong head of customer propositions and marketing, wealth and personal banking (WPB), in a statement.
«HSBC has been there for me when I needed them, whether it be financial planning for my family, international banking services or personalized support for my car collecting hobby,» Kwok added.
2020 Highlights
HSBC Jade’s Hong Kong client assets grew by around 8 percent in the first three quarters compared to the full year of 2019, the bank said. When combined with the private banking business which focuses more on ultra-high net worth clients, the two units currently have $249 billion in assets under management.
In addition to more collateralized lending solutions and portfolio monitoring tools, the bank highlighted other milestones achieved this year including the launch of two dedicated centers and an INSEAD partnership to enhance training for its staff.
«In addition to a well-established suite of wealth products, what matters most is how we curate a differentiated customer experience, which needs to be comprehensive, knowledge-based and technology-driven to create value and cover various aspects of customers’ needs in day-to-day banking transactions, financial protection and legacy planning,» Hui added.
Hong Kong HNWI Outlook
The bank’s decision to select a high-profile celebrity in Hong Kong is driven in part by its optimistic outlook in the city’s wealth growth, with expectations of a 12 percent increase annually in its high net worth population over the next five years.
«With more millionaires on the rise in Hong Kong, Jade offers an exciting gateway to new client relationships and to deeper engagement with our existing base,» said Greg Hingston, the bank’s APAC head of WPB, calling the local business a «solid launch pad to tap the wealth market in China».
«The essence of our wealth service is to help customers make informed investment decisions, provide them with greater financial flexibility and using our global connectivity, introduce them to new opportunities in international markets including the burgeoning [Greater Bay Area] economy,» added Sami Abouzahr, WPB’s Hong Kong head of customer wealth.
