HSBC announced yesterday 09 August that its Asian wealth business has delivered “robust growth” in the first half of 2021, with balances in the region achieving a record high, totalling $810 billion and accounting for 49% of the bank’s global activity in the wealth sector.
The note issued to the media detailed a 7% year-on-year increase in affluent and high net worth client numbers, with Asian wealth revenues for the period increasing 26% year-on-year, responsible for much of the 30% rise in global wealth revenue for the same period.
Greg Hingston, regional head of Wealth and Personal Banking for Asia Pacific cited investment in technology, products and...
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