HSBC expands regional wealth management footprint with new private bank in Thailand, Banking & Finance

Mon, Feb 01, 2021 – 12:40 PM

HSBC Private Banking on Monday announced its new private banking business in Thailand as part of broader efforts to grow its wealth management presence in South-east Asia.

In a statement, HSBC said the new private bank in Thailand is its second onshore business after Singapore, and will provide clients access to international capital markets by leveraging its existing infrastructure of advisory, investment methodologies, controls and systems in Asia.

The onshore team in Thailand will cover client management and advisory services and will be headed by Saranya Arunsilp, who has over 25 years of industry experience, including 14 years in private banking.

Clients’ assets will be booked in HSBC’s private banking arm in Singapore, a “preferred” wealth management hub for South-east Asian high net worth (HNW) individuals where it continues to expand its…