News Formal

HSBC opens its investment bank to super rich Asian clients

  • 📰 staronline
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 75%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

LONDON: HSBC Holdings Plc is offering its ultra-rich clients in Asia direct access to its investment bankers as the lender targets becoming a leader in managing wealth in an increasingly affluent region.

The London-based bank, which makes the bulk of its profits in Asia, has opened a new institutional family office in Hong Kong and Singapore, which will give access to a full spate of financing and investment products, deal making and institutional market access, the lender said in a statement yesterday.

Like other banks, it has struggled with low interest rates over the past years and is seeking out more fee-based income to boost profitability. In the next decade, about US$1.9 trillion of wealth in Asia will be passed on to the next generation, HSBC said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian American business leaders launch US$250m effort to combat anti-Asian hate | Malay MailNEW YORK, May 3 — Business leaders launched a five-year, US$250 million drive today to support the causes of Asian-Americans and Pacific Islanders, vowing to set up a national infrastructure for a community targeted by a rising number of racial attacks. The Asian American Foundation will invest...
Source: malaymail - 🏆 1. / 86 Read more »