HSBC plans retail wealth headcount boost with eye on potential Indian clients
Updated : May 29, 2019 11:10 AM IST
HSBC is looking to target both onshore as well as offshore clients, with a large number of rich individuals in China, India and other Southeast Asian nations looking for wealth management services in Singapore, Kevin Martin, Asia Pacific head of retail banking and wealth management said.
HSBC's retail banking and wealth management division serves clients with less than $5 million of investable assets, while those with more than that threshold are taken up by the bank's private banking unit.
As part of its plans to grow its Asia wealth business, HSBC also intends to ramp up its insurance distribution and product offerings in Hong Kong, China and Singapore this year, Martin said.