HSBC launches Jade membership programme targeting 'sweet spot' in Southeast Asian wealth space

HSBC launches Jade membership programme targeting 'sweet spot' in Southeast Asian wealth space

By: 
Michelle Zhu
28/06/18, 12:59 pm

SINGAPORE (June 28): HSBC Bank (Singapore)  today announced the launch of a new membership programme, HSBC Jade, targeting individuals looking for high net-worth (HNW) solutions in Singapore.

In a Thursday press release, the bank says its Jade membership programme will offer a unique combination of personalised relationship management, advanced wealth solutions and luxury lifestyle services through its international network.

The launch of Jade is aligned with HSBC’s focus on further building its wealth business across Asia and specifically in Singapore, it adds.  

Features of the programme include dedicated access to an expert HSBC relationship manager; on-demand access to personalised financial updates; exclusive experiences and lifestyle benefits through the HSBC Jade Concierge Service in partnership with concierge provider, Ten Lifestyle Group; and enhanced wealth & privilege banking services.

Citing data from Boston Consulting Group’s 2018 Global Wealth Report and Capgemeni’s World Wealth Report, HSBC highlights a 19% increase in personal wealth within Asia alone over the past year, with Singapore continuing to see positive y-o-y increase of its own HNW individuals’ population and wealth in 2017.

As such, the bank believes its launch of the Jade membership programme reflects the role Singapore will play in sup porting and protecting the banking and wealth advisory needs of a rising number of wealthy Asian diaspora, including Singaporeans but also individuals from other markets with similar banking needs in the city state.

Anurag Mathur, HSBC Singapore’s Head of Retail Banking and Wealth Management, says the programme will serve what HSBC defines as a “sweet spot in the wealth space across Southeast Asia” and further afield – specifically people who have amassed significant wealth, but are still building up knowledge in investment and wealth management.

He also sees Jade as a good spring board to HSBC’s private banking platform once such individuals are ready for more complex wealth solutions.

“With HSBC Jade we are bringing features traditionally associated with private banks, including concierge and world-class wealth management services, to a wider range of customers. When combining this with the convenience of our everyday banking and global reach, it’s a powerful proposition,” says Mathur.

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