HSBC sets up new wealth and insurance centre as one-stop shop to capture affluent Greater Bay Area clients
- HSBC is among 19 local lenders approved to conduct the Wealth Management Scheme to sell products to both mainland and Hong Kong investors
- Insurers Manulife and Bowtie are also expanding to capture regional wealth growth
HSBC, the largest lender in Hong Kong and Europe, has opened its first centre that combines wealth management, insurance and medical check-up services into a one-stop shop, as part of its broader effort to capture more ultra-wealthy customers in Hong Kong and the Greater Bay Area (GBA).
The 10,000 square feet-plus centre is located at K11 Aterlier Victoria Dockside in Tsim Sha Tsui, and will serve HSBC customers with investible assets over US$1 million, the bank said on Wednesday. It plans to open two more centres with a similar concept next year, one on Hong Kong Island and another in a GBA city, said Edward Moncreiffe, chief executive of HSBC Life in Hong Kong.
“The new HSBC centre can meet the demand of our high-net-worth customers who want to have a one-stop shop to manage their health and well-being and support them in their wealth creation journeys,” said Moncreiffe, adding that customers want to access these kinds of services in one place.
Source: South China Morning Post (28 Nov, 2021)
