HSBC Bank Taiwan Ltd (滙豐台灣商銀) has won five major accolades at Wealth Magazine’s 2023 Wealth Management Awards. In the category of foreign banks, HSBC Taiwan scooped the Best Wealth Management Award, Best Relationship Manager Team Award, Best Customer Recommendation Award, Best Digital Intelligence System Award and Financial Service Innovation Award.
This is the fourth consecutive year that HSBC Taiwan has won the Best Wealth Management Award and Best Relationship Manager Team Award, demonstrating HSBC Taiwan’s outstanding achievements in serving the wealth management market, cultivating talent and continuously upgrading its digital platform.
HSBC Taiwan president Adam Chen (陳志堅) attended the awards ceremony yesterday, receiving the trophy for the Best Wealth Management Award from President Tsai Ing-wen (蔡英文).
Photo courtesy of HSBC Bank Taiwan Ltd
“HSBC has committed to investing US$3.5 billion over several years to develop wealth management in the Asia-Pacific region, including one of its key markets, Taiwan,” Chen said.
“Despite the challenges affecting global markets last year, HSBC continued to invest in talent, platforms, products and digital service capabilities in Taiwan, and we leverage HSBC’s international network to provide our clients with the most professional and sophisticated wealth management services,” he said.
As the only foreign bank in Taiwan with a global presence, HSBC has observed rapid growth in Taiwan’s wealth management market in recent years.
Photo courtesy of HSBC Bank Taiwan Ltd
By 2030, the proportion of Taiwanese adults with wealth of at least US$1 million would reach 10.2 percent, the fourth-highest in Asia, after only Singapore, Australia and Hong Kong, HSBC’s Asia wealth report said.
To provide high-net-worth clients with exclusive and prestigious banking experiences, HSBC has injected resources to establish best-in-class wealth centers in Taipei and Taoyuan, with third center to open in Taichung this year.
“HSBC aims to become the best international wealth manager in Taiwan. We provide our clients with investment analysis from a global team of experts, as well as market-leading and tailor-made wealth management plans. We continuously invest to optimize our digital platform, introduce diversified investment products and leverage international connectivity to offer international financial and wealth services to our clients,” HSBC Taiwan head of wealth and personal banking Linda Yip (葉清玉) said.
In addition to providing professional wealth management services to clients, HSBC Taiwan has also been developing digital finance, and its holistic investment platform on its mobile banking app won it the Financial Service Innovation Award from Wealth Magazine this year.
As consumers’ digital investment behaviors shift from computers to mobile phones, HSBC Taiwan has upgraded its mobile banking app to develop a 100 percent digitalized investment process.
Through mobile phones, clients can carry out diversified investment transactions at any time or place, including foreign currency exchanges, onshore and offshore fund investments, and instant investment transactions on US and Hong Kong shares, which break time and geographical restrictions.
HSBC is the only bank in Taiwan that offers digital services — Internet banking and mobile banking — to private banking clients.
Clients can adjust their portfolios flexibly 24 hours a day and grasp market opportunities.
CONSIDERATIONS: The NSTC instructed the park to assist laid-off workers and urge companies to use furlough programs to ease the effects of falling demand Firms in the Hsinchu Science Park (新竹科學園區), which houses major tech companies, reported laying off 496 employees last month amid weakened global demand, Hsinchu Science Park Bureau director-general Wayne Wang (王永壯) said yesterday. Wang told a news conference that 48 companies in the science park laid off employees last month, including one hard disk supplier which let go 241 employees as part of a plant closure due to falling demand. Other companies reported sporadic layoffs as they adjusted to weakening demand, he said. Wang made the remarks after local media reported the layoffs over the weekend. Although the global economy is struggling with high
DEJA VU: Echoing the probe into real-estate giant Evergrande Group, the bank is under Beijing police scrutiny after last week, telling investors it is ‘severely insolvent’ Chinese authorities said they recently opened criminal investigations into Zhongzhi Enterprise Group Co’s (中植企業) money management business, days after the embattled shadow banking giant revealed a shortfall of US$36.4 billion in its balance sheet. Police in Beijing said in a statement on WeChat that they took “criminal mandatory measures” against multiple suspects, identifying one by their last name, Xie (解). They urged investors to report cases or provide leads to the authorities, including filing complaints online. Xie Zhikun (解直錕), the group’s founder, died in 2021, but several of his relatives are executives at the company. The statement did not elaborate on what
German Chancellor Olaf Scholz and German Minister for Economic Affairs and Climate Action Robert Habeck have promised to solve investment subsidy issues for Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and Intel Corp, despite the country’s budget woes. Uncertainty over the funding to TSMC and Intel has arisen after a ruling by the German Federal Constitutional Court, which cast doubt over subsidies for construction of local semiconductor chip plants. On Nov. 15, the court ruled that the German government’s decision last year to reallocate 60 billion euros (US$65.74 billion) of unused funding from COVID-19 pandemic support measures to its Climate and Transformation Fund
NEW TREAD: The Taiwanese shoe brand paired with TSMC to turn silicon waste into a circular economy good, following its success making shoes from coffee grounds Ccilu International Inc (馳綠國際), a Taiwan-based footwear brand, has become the first company in the world to turn silicon waste from contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) into eco-friendly shoes. Last year, the global footwear industry saw the first pair of pressure-relief slippers made from recycled silicon waste by Ccilu. The brand continued to unveil follow-up collections, including sports shoes and massage slippers made from the same materials. In an interview with CNA, Ccilu CEO Wilson Hsu (許佳鳴) recalled the company’s innovation of the first pair of slippers made from silicon waste after its silicon waste treatment partner, Semisils Applied Materials