HSBC Private Bank - Competitor Profile

The 'HSBC Private Bank - Competitor Profile' provides a comprehensive analysis of HSBC's private banking and wealth management operations. It offers insights into the company's strategy and financial performance, including key data on assets under management (AUM). Customer targeting and service propositions are covered, as are product innovation and marketing activities.

Headquartered in London, HSBC Holdings is a global universal bank. HSBC Private Bank is a brand used by its Global Private Banking (GPB) unit, catering to individuals with more than $5 million (or the local currency equivalent) in assets. GPB itself operates as a distinct unit within the newly created Wealth and Personal Banking division.

Scope

• HSBC Private Bank offers a wide range of traditional and alternative investment products as well as lending and deposit products to HNW and UHNW individuals, entrepreneurs, and family offices.
• In 2021, the operating revenues of HSBC Private Bank increased by 7.1% to reach $1.8 billion, mainly led by growth in non-interest income as driven by a rise in investment revenue, reflecting higher fees from advisory and discretionary mandates.
• The bank has also been exclusively focusing on the digitalization of its products and services to better meet the demands of its clientele globally. In 2021, HSBC Private Bank launched HSBC GPB Chat (a client messaging platform for clients to interact with their relationship managers), HSBC GPB eSignature, and an online trading platform.
• Environmental, social, and governance (ESG) remains a key focus. To add specific sustainable investment objectives to its wealth offerings, HSBC launched its first discretionary mandate focused on biodiversity in May 2022 for private banking clients in Hong Kong. In August 2021, HSBC launched an ESG-themed structured note for its HNW and UHNW clients in Hong Kong and Singapore.

Reasons to Buy

• Examine the financial performance, key ratios, and AUM growth of HSBC and its Private Banking division and benchmark this competitor against other global wealth managers.
• Understand HSBC Private Banking's current strategic objectives and their impact on its financial performance.
• Discover HSBC Private Banking's key products and client-targeting strategies and examine whether these have been successful.
• Learn more about HSBC Private Banking's marketing strategy, social media presence, and digital innovations.