HSBC Launches One-Bank Entrepreneur Programs
The private and commercial banking units of HSBC have joined hands to strengthen their propositions for clients in Asia who are entrepreneurs.
Asian wealth is largely powered by money from family businesses and entrepreneurs. In response to this, HSBC has upgraded its offering with two new programs targeting such clients.
HSBC has launched the «Private Wealth Entrepreneur Incubation» program which aims to «nurture and accelerate high-potential business owners», according to a statement.
The program targets existing corporate clients that have not yet been onboarded to HSBC’s private banking arm by providing tailored wealth planning, investment events and access to industry experts, supported by experienced relationship managers.
Tech and Innovation
The bank has also launched the «Innovation Exchange» program in Hong Kong and the UK to connect private banking clients with innovative businesses.
In addition to sharing industry insights in the innovation and technology industry, this will also include the «All-in on Innovation» thought leadership program which offers ultra-high net worth clients in Asia who are passionate about the tech sector an opportunity to meet successful tech venture capitalists and startups in the US.
One-Bank Collaboration
According to HSBC, it has seen a «significant uptake» in demand for one-bank solutions encompassing personal and business needs, especially for entrepreneur clients. One-bank is an industry term that refers to collaborative efforts between the private bank and other parts of a financial group, such as the commercial or investment bank, to serve clients holistically beyond personal wealth needs.
«Entrepreneurs have always been an integral part of our business. Today, two-thirds of our Global Private Banking clients in Hong Kong are entrepreneurs,» commented Lok Yim, regional head, global private banking, Asia Pacific, HSBC.
«With growing wealth in Asia, we are pleased to launch a more focused proposition to further build on our strong connectivity across Global Private Banking, Commercial Banking and Corporate and Institutional Banking to bridge entrepreneurs’ business success with tailored investment strategies and long-term wealth planning.»
