As Taiwan’s only large international bank with a global presence, HSBC Holdings PLC reiterated its commitment to investing in Taiwan to build new wealth centers and expand the number of relationship managers to serve the fast-growing market.
To maintain its position as the best retail and wealth management bank in Taiwan, HSBC said it would continue its investments to accelerate wealth expansion, grow its cross-border international customer franchise, develop its lending capabilities, and foster innovation and digitalization.
“We are well-positioned to be the only international bank in Taiwan that serves the full spectrum of customers, from retail, mass affluent, high-net-worth to ultra-high-net-worth customer groups, with diversified and high-quality services,” said Anthony Yu (游天立), head of Wealth and Personal Banking at HSBC Bank Taiwan Ltd (匯豐台灣商銀).
Photo courtesy of HSBC Bank Taiwan Ltd
Yu highlighted the three major strengths of the bank’s international banking services, including providing customers with professional insights and products backed by a global team of 4,000 wealth experts. Clients can enjoy free Global Transfers between all of their HSBC accounts in 26 markets worldwide.
In addition, with just one HSBC Everyday Global Visa Debit Card, they can access up to nine foreign currencies without foreign exchange or administrative fees, including zero handling fees for cash withdrawals.
“These international banking service capabilities make us the bank that can best meet the needs of high-net-worth clients,” Yu said.
Eyeing the strong potential of Taiwan’s wealth management market, HSBC is expanding its group of relationship managers, which grew 42 percent year-on-year in the first quarter this year, Yu said.
In the meantime, HSBC Taiwan is scheduled to open its third wealth management center in Taichung by the end of this year, following the launch of its first two in Taipei and Taoyuan since late last year — a testament to the bank’s commitment to investing in the market, Yu added.
As of the end of the first quarter this year, HSBC Taiwan saw its assets under management increase 37 percent from the same period last year.
By leveraging its international connectivity and local expertise, HSBC is committed to providing customers with world-class and full-suite wealth management services. It launched the Premier Elite service last year to offer customized financial planning services for high-net-worth clients with assets of more than NT$15 million (US$472,441). Over the past year, its Premier Elite customer pool has grown more than 80 percent year-on-year, demonstrating the strong potential of Taiwan’s wealth market.
In celebration of the first anniversary of the launch of its Premier Elite service, HSBC Taiwan is offering a series of market-leading campaigns for its new Premier customers, including US dollar time deposit preferential rates, high cash rebates for users of the HSBC Everyday Global Visa Debit Card, and zero handling fees for fund and overseas stock transactions.
According to the results of a global survey of HSBC’s Premier clients last year, among Taiwan’s Premier Elite customers, 66 percent rated global investment products and cross-national financial planning as the most important services when they choose a bank; 61 percent said they need multicurrency accounts; and 45 percent said they require international financial transfer services.
These highlight that HSBC’s customers value the most the cross-border services that their bank provides to fulfill their needs in business operations, investment planning and children’s overseas education.
With its unique global network and customer-centric services, HSBC was recently named the Best International Bank in Taiwan by both FinanceAsia and Asiamoney. It is the top honor awarded by these two authoritative financial magazines in Taiwan.
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