HSBC Rolls Out Institutional Family Office Services

Single-family office clients across Asia will be able to tap on HSBC’s team of investment banking specialists and institutional execution services.

HSBC said that combining the family office and wealth planning strengths of its private banking business with the expertise and reach of its global banking and markets business will allow it to better serve the growing needs and levels of sophistication of family offices.

In an announcement on Thursday, the bank cited the growing number of ultra-high net worth families in Asia and the scale of wealth transfer happening in the region, where $1.9 trillion is expected to be passed on to the next generation.

The bank’s family office relationships will be able to access a wider range of solutions and opportunities, including financing solutions and product capabilities, including institutional market access, prime services, and private deals, the announcement said.

As wealthy individuals and businesses professionalize the management of their family wealth, we will deliver the full strength of advisory and structuring capabilities in our private banking and investment banking teams to meet our clients’ increasingly sophisticated investment and family needs, Siew Meng Tan, regional head of HSBC Private Banking, Asia-Pacific, said.

HSBC said the move is aligned with its ambition to become the leading wealth bank in the region. The bank previously announced plans to invest over $3.5 billion in the next five years to accelerate the growth of its Wealth and Personal Banking (WPB) business in Asia.