BESPOKE BANKING
HSBC firmly establishes itself as one of the best ways to grow, manage, and preserve wealth – for now and for generations to come – with the launch of HSBC’S onshore Global Private Banking business in Thailand.
According to HSBC Global Research, wealth in Thailand is expected to grow by almost 60 percent between now and 2030, with the number of millionaires expected to double within the same period. This, in turn, is changing investor behaviour and preferences, which is why HSBC Global Private Banking (GPB) is so well positioned to support clients and their families, as well as businesses, by leveraging their international network and expertise.
As the first commercial bank in Thailand, founded in 1888, HSBC has long been involved in the development of the kingdom’s financial sector. For the past year, HSBC Thailand has been supporting the increasingly sophisticated investment needs of clients, as evidenced by the launch of their onshore private banking business, HSBC GPB, which consists of a dedicated team of Bangkok-based Relationship Managers, Investment Counsellors and Client Service Executives – all experienced to deliver best-in-class private wealth management services to Thai clients.
HSBC GPB bespoke services cater to clients’ private wealth, business, and family needs. Clients are given access to HSBC’S unparalleled international network and universal banking model, and these capabilities are increasingly being delivered through a hybrid service model combining advanced digital platforms with value-added human engagement – accurately reflecting the way next gen users want to interact with their financial institutions.
Of course, the concerns of the patriarchs and/or matriarchs of family businesses are also of paramount importance, especially when it comes to wealth and succession planning needs, which have become more complex as affluent Thai families expand their global reach. For over 75 years, HSBC Trustee has been the partner for sustaining clients’ family wealth and legacies, making them one of the longest serving private client trustee businesses in Asia.
In addition to all these services, HSBC GPB’S philanthropy advisory team actively supports clients looking to spearhead long-lasting change in their communities. By supporting clients throughout their philanthropic journeys, the expert advisory team ensures that the right connections are made in order to enable the most positive changes.
Looking beyond the borders of Thailand, HSBC GPB also creates opportunities for high-net-worth and ultra-high-net-worth individuals by connecting them to other parts of the Group, assisting them with all manner of investment needs. By providing access to the widest range of investment products – including HSBC Alternatives, HSBC Asset Management’s alternatives division, one of the largest alternative investments platforms across Private Equity and Private Real Estate – HSBC is truly “global” in its scope.
Within the ASEAN region, HSBC offers onshore private banking in Singapore, connecting clients to investment opportunities in global wealth hubs such as the United Kingdom, the United States and
Hong Kong. Meanwhile, HSBC Trustee offers clients global coverage in Hong Kong, Singapore, the Jersey islands, and in the USA, particularly in Delaware and New York.
With a commitment to invest in Asia, while remaining global in its reach, HSBC GPB continues to forge stronger bonds with entrepreneurs and families alike, helping both to achieve their long-term ambitions and serving their ever-evolving financial needs.
“As the first commercial bank in Thailand, HSBC has always been at the heart of financial innovation. With the launch of our private banking business and the recent introduction of our HSBC Asset Management capabilities, we are now also bringing something new to the Thai wealth market,” says Giorgio Gamba, CEO of HSBC Thailand.
According to Siew Meng Tan, Regional Head of Global Private Banking, Asia Pacific at HSBC, “One year into establishing its onshore presence in Thailand, HSBC is seeing greater demand, and even a sense of urgency, for wealth planning, investment diversification, and international banking from wealthy Asian families, as their needs become more sophisticated and global in nature, amid challenges posted by unprecedented market volatility.”
This is confirmed by Annabel Spring, CEO of Global Private Banking and Wealth at HSBC. “We’re partnering with our clients in Thailand to connect them to new investment opportunities within ASEAN and across our wealth hubs around the world. We uniquely combine deep local understanding, specialist investment expertise, and unparalleled global presence to bring the best of all of HSBC to their families and businesses.”
privatebanking.hsbc.com
I am honoured to be leading HSBC Thailand’s new and exciting journey in bringing HSBC Global Private Banking’s capabilities to the Thai market. The Thailand team looks forward to supporting our customers in connecting them to a world of opportunities
Saranya Arunsilp, Country Head of Global Private Banking, HSBC Thailand