HSBC named Best Private Bank in Hong Kong by FinanceAsia for the sixth consecutive year

HSBC has been named "Best Private Bank in Hong Kong for 2014" by FinanceAsia, a leading financial publication in the Asia-Pacific region. The award was given based on the bank’s expertise in trust and succession planning.

The FinanceAsia Country Awards for Excellence are considered to set the industry standard for recognising excellence in Asian finance, and are highly coveted. The winners are the best commercial and investment banks in 16 markets in Asia.

Judges for the finance magazine noted the relatively low cost/efficiency ratio compared with competitors, and the long history of Global Private Bank’s wealth advisory business. The judges commented “Global Private Bank excels in wealth advisory, an area that keeps our private banking clients up at night.”

For client referrals HSBC draws upon a strong network, as many already benefit from Commercial Banking (CMB) and Global Banking and Markets (GBM) products. Private Bank’s increased collaboration with other global businesses within HSBC is resulting in higher quality, end-to-end solutions for business-owning families in Hong Kong.

A key component of the win was the bank’s strength in wealth advisory, which helps clients establish a strong foundation to protect their legacy for their families and future generations. The Private Wealth Solutions team has around 300 professionals in the region dedicated to wealth structuring, trust services, business succession planning and philanthropy advisory, with around USD60 billion in assets under management. In the alternatives space (investment in asset classes other than stocks, bonds and cash) HSBC’s Private Bank is one of the largest hedge fund investors in the world.

Bernard Rennell, Regional Head of Global Private Banking Asia-Pacific, said: “Without the intense collaboration with the other global businesses, this achievement would have not been possible. We are committed to continuing our focus on growing the business and delivering the best client experience possible.”

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