Hang Seng Bank Launches 2 New Cross-Border Wealth Management Centres in Tsim Sha Tsui & Shenzhen, Clients Can Setup Wealth Management Connect Investment Accounts to Access Investments Between China, Hong Kong & Greater Bay Area
18th August 2023 | Hong Kong
Hang Seng Bank has launched 2 new Cross-Border Wealth Management Centres in Tsim Sha Tsui & Shenzhen (China), allowing clients to setup Wealth Management Connect Investment accounts to access investments between China, Hong Kong & Greater Bay Area. With the 2 new Cross-Border Wealth Management Centres in Tsim Sha Tsui & Shenzhen, there are now a total of 6 centres including 3 existing centres in Hong Kong (Sheung Shui, Central, Kowloon Tong) and 1 centre in Guangzhou (China). Hang Seng Bank: “Together with its existing CBCs (Cross-boundary Wealth Management Centres) Cross-boundary Wealth Management Centres in Sheung Shui, Central and Kowloon Tong in Hong Kong, and Guangzhou in the mainland, the Bank and Hang Seng China now operate a network of six Centres in key GBA cities. To further strengthen its cross-boundary wealth management offerings, wealth management professionals at Hang Seng CBCs in Hong Kong can swiftly connect customers to wealth management expert in the mainland upon their request. Services currently include providing information on investment, including the Cross- boundary Wealth Management Connect (‘WMC’) Scheme, as well as on mortgages and foreign exchange. Wealth management professionals can make appointments for clients who wish to open Cross-boundary WMC investment accounts. In addition, Hang Seng and Hang Seng China are working together to provide clients with simple and convenient account maintenance services. Staff can assist customers with reactivating inactive accounts and updating personal information for cross-boundary accounts, eliminating the need to physically cross the boundary.” More info below
“ Hang Seng Bank Launches 2 New Cross-Border Wealth Management Centres in Tsim Sha Tsui & Shenzhen, Clients Can Setup Wealth Management Connect Investment Accounts to Access Investments Between China, Hong Kong & Greater Bay Area “
Rannie Lee, Head of Wealth and Personal Banking, Hang Seng: “We saw unleashed pent-up demand for cross-boundary wealth management services since the resumption of travel between Hong Kong and the mainland earlier this year. Our number of new account openings by non-Hong Kong residents increased by about 350% during the first six months of 2023 compared with the same period last year. Wealth management business in the GBA is a key strategic focus for Hang Seng’s Wealth and Personal Banking (‘WPB’) business. We have achieved good growth during the first half, including a 20% increase in Hang Seng China’s total operating income from WPB business in the GBA. Through its growing network of strategically located Cross-boundary WMCs and other initiatives to further enhance its cross-boundary connectivity, Hang Seng aims to provide customers with a superior cross-boundary wealth management experience and contribute to the long-term growth of Hang Seng’s business in the GBA.”
Hang Seng Bank Launches 2 New Cross-Border Wealth Management Centres in Tsim Sha Tsui & Shenzhen, Clients Can Setup Wealth Management Connect Investment Accounts to Access Investments Between China, Hong Kong & Greater Bay Area
8th August 2023 – Hang Seng Bank (‘Hang Seng’) and its wholly owned subsidiary, Hang Seng Bank (China) (‘Hang Seng China’), continue to demonstrate leadership in meeting the growing demand for cross-boundary wealth management services in the Greater Bay Area (‘GBA’), with the opening of two more Cross-boundary Wealth Management Centres (‘CBC’). Staffed by dedicated wealth management professionals, the two new CBCs – one in Tsim Sha Tsui and the other in Shenzhen – further enhance the Bank’s ability to provide customers in Hong Kong and the mainland with seamless cross-boundary wealth management solutions.
Together with its existing CBCs (Cross-boundary Wealth Management Centres) Cross-boundary Wealth Management Centres in Sheung Shui, Central and Kowloon Tong in Hong Kong, and Guangzhou in the mainland, the Bank and Hang Seng China now operate a network of six Centres in key GBA cities. To further strengthen its cross-boundary wealth management offerings, wealth management professionals at Hang Seng CBCs in Hong Kong can swiftly connect customers to wealth management expert in the mainland upon their request. Services currently include providing information on investment, including the Cross- boundary Wealth Management Connect (‘WMC’) Scheme, as well as on mortgages and foreign exchange. Wealth management professionals can make appointments for clients who wish to open Cross-boundary WMC investment accounts. In addition, Hang Seng and Hang Seng China are working together to provide clients with simple and convenient account maintenance services. Staff can assist customers with reactivating inactive accounts and updating personal information for cross-boundary accounts, eliminating the need to physically cross the boundary.
Hang Seng will introduce more cross-boundary banking services in the next few months by leveraging the Bank’s digital strength. Mainland residents will be able to visit Hang Seng branches in Hong Kong and open a new account in around 30 minutes through the Hang Seng Personal Banking Mobile App, with successful applicants able to enjoy instant issuance of an ATM card for their account. Customers can also register for Hang Seng Personal Mobile Banking services on the spot, allowing them to conveniently manage their accounts anytime, anywhere.
Hang Seng Bank
Hang Seng Bank is celebrating its 90th anniversary this year. Founded in 1933, Hang Seng Bank has continually innovated to provide best-in-class, customer-centric banking, investment and wealth management services for individuals and businesses. It is widely recognised as the leading domestic bank in Hong Kong, currently serving more than 3.9 million customers. Combining its award-winning mobile app and strong digital capabilities with a vast network of over 260 service outlets in Hong Kong, Hang Seng offers a seamless omni-channel experience for customers to take care of their banking and financial needs anytime, anywhere. Its wholly owned subsidiary, Hang Seng Bank (China) Limited, operates a strategic network of outlets in almost 20 major cities in Mainland China to serve a growing base of Mainland customers locally and those with cross-boundary banking needs. The Bank also operates branches in Macau and Singapore, and a representative office in Taipei. As a homegrown financial institution, Hang Seng is closely tied to the Hong Kong community. It supports the community with a dedicated programme of social and environmental initiatives focused on future skills for the younger generation, sustainable finance and financial literacy, addressing climate change and caring for the community. Hang Seng is a principal member of the HSBC Group, one of the world’s largest banking and financial services organisations.
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