HSBC: Number of Fresh Wealth Clients Surges in Hong Kong
Wealth management is one of the major growth drivers for HSBC. In the second quarter, it recorded asset growth driven in part by hundreds of thousands of fresh clients in Hong Kong.
HSBC’s wealth management business saw 300,000 new-to-bank customers in Hong Kong in the second quarter of 2025, according to a presentation to investors and analysts. This compares to 177,000 during the same period last year.
Globally, invested assets grew 12 percent year-on-year to over $1.4 trillion in the quarter with $22 billion of net new assets. Asia accounted for half of the assets and inflows, or $712 billion and $11 billion, respectively.
Revenues from the wealth management business were also a major contributor as related fee and other income increased 22 percent to $2.3 billion, with growth across the board in asset management, insurance, private banking and investment distribution.
Growth Plans
HSBC will continue to invest in international wealth and premier banking (IWPB) – one of its four main business divisions – with a focus on customer acquisition in Singapore and other growth markets, as previously announced in February, as well as growth in assets, mandates and the capturing of greater share of corridor flows.
Investments underway include a new premier offering to be launched in UAE, India, Malaysia and the US in the second half, end-to-end digital customer onboarding, the opening of wealth centers, its portfolio-based advisory service PRISM and more.
«In IWPB, we continue to hire new relationship managers across our priority growth markets, launch new wealth products and invest in technology and training to improve customer experience,» said CEO Georges Elhedery in a letter to shareholders.
