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HSBC makes strong progress to Asia wealth drive

by moneycompass
May 11, 2021
in Corporate News
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HSBC’s wealth business in Asia delivered a strong start in the first quarter of 2021 since the roll out of its USD3.5 billion investment plan. Wealth and Personal Banking (WPB) is on track to hire over 1,000 client-facing wealth roles in Asia by the end of 2021 as part of the bank’s strategy to become the leading wealth manager in the region by 2025.

In February 2021, HSBC announced that it plans to hire more than 5,000 client-facing wealth roles in the next five years, including relationship managers, investment counsellors and specialists to better support affluent, high net worth and ultra-high net worth clients in Hong Kong, mainland China and Singapore.

In 2020, HSBC held the largest pool of client assets across the wealth continuum of mass affluent to ultra-high net worth clients in Asia at USD488 billion.

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