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Apr 27, 2024 04:56 AM
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HSBC’s Private Bank Shuts IAM Business in HK, Singapore

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HSBC’s independent asset management desks were set up in 2020 in Singapore and in 2022 in Hong Kong
HSBC’s independent asset management desks were set up in 2020 in Singapore and in 2022 in Hong Kong

(Bloomberg) — HSBC Holdings Plc’s private bank has discontinued its independent asset management business in Hong Kong and Singapore following a strategic business review, a bank spokesperson said.

“We will make this change as smooth as possible for affected clients,” the spokesperson said in a statement. The bank remains committed to providing solutions for single and multi-family offices, the spokesperson said.

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