said on Monday, February 1, it had set up a new private banking business in Thailand, the Asia-focused lender's second onshore expansion in Southeast Asia, as it seeks to grab a bigger share of the growing rich population.
"In Thailand and across ASEAN, private wealth is often created and built through business growth and expansion and as intra-regional trade and activity rebound, we expect commercial, people, and wealth flows to increase," said Philip Kunz, HSBC's head of global private banking for Southeast Asia.
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