The opening of the new HQ comes on the back of the British lender’s earmarked $3 billion investment in South and Southeast Asia.
HSBC officially opened its new Singapore headquarters at the Marina Bay Financial Centre Monday. The ceremony was officiated by Group CEO Noel Quinn and joined by Singapore’s DPM Heng Swee Keat and HSBC Singapore CEO Wong Kee Joo.
The new HQ marks HSBC’s long-term commitment to Singapore and recognizes the city-state’s position as the regional hub for wealth management, innovation and sustainability, the bank announced.
«Singapore is one of the pillars of HSBC’s growth strategy in Asia and this move reflects our ambitions for our business. We will leverage on Singapore’s strengths to serve our customers’ present and future needs,» Quinn (pictured below) said.
HSBC has earmarked a $6 billion investment in Asia over a 5-year period from last year, with half of it to be spent in Southeast Asia and India. This year, the bank has completed strategic acquisitions including Axa Singapore. It has also increased its stake in HSBC Qianhai Securities to 90 percent.
«We are excited about Singapore’s Financial Services Industry Transformation Map as this is aligned with our ambitions to grow as a bank of the future, helping our customers manage their wealth and health, navigate the digital economy and transition to net zero,» HSBC's Singapore CEO Wong said.
Sustainable Finance
HSBC Singapore remains committed to supporting corporate clients as well as individuals’ green transition through financing and the introduction of more ESG-themed banking and investment solutions, the bank said in the press statement.
It also aims to grow its wealth business by 100 percent and to target double-digit growth in its commercial banking business in the city-state.
