HSBC Jade targets the well heeledBusiness | Avery Chen 10 Jan 2019
The Hongkong and Shanghai Banking Corporation formally launched HSBC Jade yesterday as a new proposition that targets high net worth clients with complex investment needs and investible assets worth more than HK$7.8 million.
The bank said it seeks to further deepen through Jade its relationship with existing high net worth clients and attract new customers in Hong Kong.
Kevin Martin, HSBC's regional head of retail banking and wealth management for Asia-Pacific, said HSBC Jade embodies its holistic approach to wealth management, including family, mobility, international banking and health and wellness. "At times of uncertainty, that's the time you need a bank and it's the time you need a Jade director for help," he said.
Jade clients will be served by dedicated and experienced relationship managers alongside a team of multidisciplinary wealth experts who will support them on wealth management strategy and in leveraging the insights of HSBC's global wealth management franchise. Meanwhile, HSBC plans to fill up 1,300 posts in its frontline wealth teams by 2022, of which more than 600 will be in retail banking and wealth management, including half of the RBWM hires in Hong Kong.
The bank is offering Jade clients 3.0 percent interest per annum for six-month and 2.8 percent interest per annum for three-month US dollar new fund time deposits. It also provides 2.4 percent interest per annum for six-month and 2.2 percent interest per annum for three-month Hong Kong dollar new fund time deposits, from now until the end of this month.
The Jade Centre at The Peninsula is the first HSBC Jade Centre in Hong Kong.