London-headquartered HSBC is adding to client-facing investments in Singapore, including plans to open three wealth centers in the city-state.
HSBC plans to open three wealth centers in Singapore by early 2025, according to a statement. This includes one in the central business district in June alongside another in 2024 and one more in the first quarter of next year.
The centers will serve clients across the full wealth spectrum from the mass market to ultra-high net worth individuals.
Client-Facing Investments
The new centers are part of broader plans for the bank to increase physical engagement with customers in Singapore.
In addition, HSBC will also look to up investments in its physical network five-fold and increase the number of client-facing roles by more than a third by 2028. It currently has around 4,000 staff in the city-state.
Tech Capabilities
Beyond the physical touch, HSBC has also been focused on digitalization, having doubled its investments in technology in Singapore over the last five years to improve client experience.
«As Singapore grows as an international financial center and international wealth hub, HSBC is uniquely placed to meet the wealth and international banking needs of our clients through the scale and breadth of our network and capabilities,» said HSBC Singapore CEO Wong Kee Joo.
