A Legacy for Change
hilanthropy is embedded in HSBC’S history. Archival HSBC records showcase correspondence with local philanthropists and leaders bent on building Hong Kong into a truly prosperous and liveable city.
A community thrives through social investment in its people, as well as prioritising conservation and the environment. In addition, those who can also see beyond perceived community challenges and identify ways in which to celebrate a community’s assets such as arts, culture and heritage, provide a more balanced contribution to the life of the community. In this way, the Private Wealth Solutions team at HSBC Private Banking continues to help communities thrive by assisting others in their philanthropic endeavours.
HSBC’S charitable trust clients represent the philanthropic pioneers of earlier eras and today’s entrepreneurial contributors. The most visionary and generous serve as fine examples of how family enterprises can create a legacy and succeed in business while making lasting philanthropic contributions. Asia has more than its fair share of entrepreneurs overflowing with ideas, determination and vision, and many work with their family members and partners to generously give back. HSBC connects these family enterprises to the opportunities to create social and environmental change.
Clients trust us to execute their philanthropic wishes in perpetuity. For many long deceased clients, the trusts they set-up, which are managed by our philanthropy team, annually contribute to improving the lives of Hong Kong’s residents.
Like business, family life is never static. And it is this very dynamism which underlines the importance of formalising how the family works together as a unit—the key to enhancing unity and ensuring continuity. For us, philanthropy is a key ingredient in growing human and social capital, and family governance. Philanthropy can also play an integral role in expressing values and encouraging participation, problem-solving, good communication and stewardship.
At Private Wealth Solutions, HSBC Private Banking we take pride in our efforts to continually build our philanthropy teams and partnerships to facilitate client contributions to the evolving and growing social and environmental challenges of our times. This is an art as much as a science, and is solidly built on key client, family and community relationships—a cornerstone of our business.
Alan Beattie Global Head of Private Wealth Solutions, HSBC Private Banking