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HSBC Private Bank Launches Online Trading Platform to 10 Markets, 20 Hours Support, $2 Million Per Trade and $10 Million Daily

18th June 2021 | Hong Kong

HSBC Private Bank has launched an online trading platform for all HSBC Private Banking clients booking their assets in Asia, providing trading access from their mobile phone to equities and ETFs in 10 major financial markets with 20 hours support, a high $2 million limit per trade and $10 million trading limit per day.   The 10 major financial markets are Hong Kong, mainland China, Singapore, Japan, the Philippines, Australia, the UK, the US, Germany and France. (ETFs ~ Exchange Traded Funds)

” HSBC Private Bank – 20 Hours Support, $10 Million Daily Limit, $2 Million Per Trade “

 




HSBC Private Bank – 20 Hours Support, $10 Million Daily Limit, $2 Million Per Trade

HSBC Paris
HSBC Paris

The new HSBC Private Bank Online Trading Platform is designed to connect HSBC Private Bank high net worth and ultra-high net worth clients booking their assets in Asia, with the latest market opportunities from their mobile phone for all.  The online trading platform provides the ability to track and analyse investments in real-time and review trade portfolios at their convenience, while offering up-to-date quotes and price charts to help clients make informed investment decisions.

Clients can buy and sell securities in the 10 major financial markets during exchange trading hours and trade up to $10 million daily, and up to $2 million per transaction. A dedicated support team will provide an industry-leading 20 hours a day coverage, across each market’s opening hours.

Over the last 2 years, HSBC Private Banking have launched its new internet banking application, integrated and direct client communication to allow more seamless client engagement and a world-class investment knowledge and research platform, with personalised alerts and notification as well as instant messenger in development to keep clients abreast of key events specific to their portfolios

 

Regional Head of HSBC Private Banking Asia-Pacific, Tan Siew Meng:

HSBC Private Bank Tan Siew Meng Headshot
Regional Head of HSBC Private Banking Asia-Pacific, Tan Siew Meng

“Technology is redefining wealth management, giving greater access, flexibility and control over the management of investments globally. As an award winning private bank for digital customer experience, we are excited to unveil our new Online Trading platform enabling our clients to invest directly in key equity markets globally from their mobile phones.

We expect to invest over USD100 million in the next two years to build and innovate our core banking and digital platforms to meet the fast-changing wealth and lifestyle needs of our clients.

Key to the Group’s wealth growth in Asia, HSBC Private Banking has been investing considerably in our product, distribution and digital capabilities in the last two years to deliver an enhanced suite of digital products using best-of-breed technology, providing our clients with a significantly improved experience.”

 

HSBC Private Banking

HSBC London Headquarter
HSBC London Headquarter Riverview

In September 2020, HSBC appointed Annabel Spring as the new Chief Executive of HSBC Global Private Banking, one of the largest international private bank with more than $353 billion Assets under Management (AUM).  Charlie Nunn is the current CEO of HSBC Wealth and Personal Banking.

HSBC Wealth and Personal Banking division was created earlier in 2020, when HSBC combined its retail banking and wealth management, asset management, insurance and private banking business units, to become one of the world’s largest global wealth managers with over $1.4 trillion (Q2 2020).

HSBC Private Banking is part of HSBC Group, one of the world’s largest banking and financial services organisations with $2.95 trillion assets as of 31st March 2021.  HSBC Private Banking seeks to be the leading international private bank for business owners and their families.

Global Private Banking, operate as a distinct business unit and brand, growing client assets in 1st half of 2020 to $353 billion and net new money (inflow) of $5.3 billion.

  • HSBC Private Bank: $353 billion
  • HSBC Retail Wealth: $357 billion
  • HSBC Premier & Jade: $445 billion
  • HSBC Asset Management: $263 billion
  • Total: $1.4 trillion

 

HSBC Growth Plans in Asia

Singapore Financial District 2016 Dec 1
Singapore | Leading financial centre in Asia

In February 2021, HSBC announced its plans to invest over $3.5 billion in the next five years and 5,000 new hires to accelerate the growth of its Wealth and Personal Banking (WPB) business in Asia and drive its ambition to become the leading wealth bank in the region.

Related:

 

HSBC Wealth Business Grows in Asia to $800 Billion, Hires 1000 in 2021

Hong Kong 3
Hong Kong, Asia’s leading financial centre

HSBC wealth business in Asia is also growing fast with almost $800 billion or half of HSBC’s global $1.6 trillion wealth assets is in Asia.  In 2021, HSBC in Asia is also on track to hire over 1,000 client-facing wealth management roles as part of HSBC’s strategy to become the leading wealth manager in Asia by 2025.

In Q1 2021, HSBC set up a new onshore private banking business in Thailand and launched a dedicated Independent Asset Managers’ desk in Singapore to meet the needs of family offices and independent advisors managing wealth on behalf of their clients.  

In May 2021, HSBC launched a new institutional family office service in Hong Kong and Singapore, providing family offices access to HSBC Investment Banking specialists, products and services.

In Mainland China, HSBC expanded their new mobile personal wealth planning service, HSBC Pinnacle, to 4 cities – Guangzhou, Hangzhou, Shanghai and Shenzhen, with 4 new products by HSBC Life China, including a market-first GBA unit-linked fund.

HSBC’s Global Markets also continues to build wealth solutions, increasingly on digital platforms for FX, Equities, Bonds, structured products and private placements for clients in Hong Kong, Mainland China, Malaysia and Singapore.  HSBC Global Markets is also a leading provider of sustainable investments across asset classes, including Asia’s first RMB green certificates of deposit for retail investors in Hong Kong in Q1 2021.

  • Asia contributed $1.2 billion to global profits, representing 2/3 of global WPB profits
  • Wealth revenue grow to $1.5 billion
  • Wealth balances in Asia grew to nearly half half of global $1.6 trillion wealth balances
  • 80% of retail wealth sales in Asia-Pacific are conducted through digital channels
  • HSBC Private Banking in Asia attracted $6.6 billion net new money (NNM)
  • HSBC Asset Management in Asia attracted $3.3 billion net new money (NNM)
  • HSBC Life generated Premium of $676 million

 

HSBC:

Related:

 


HSBC Private Bank Thumbnail Logo

About HSBC Holdings

HSBC Holdings plc. the parent company of the HSBC Group. is headquartered in London.  HSBC serves customers worldwide from offices in 64 countries and territories in our geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa.  With assets of $2.923 billion at 30th June 2020, HSBC is one of the world’s largest banking and financial services organisations.



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