Retail Banks

HSBC Premier uplifts offerings for affluent families in Hong Kong

Market-First HSBC Prime Club with Exclusive Wealth Experience, International Education Support and Lifestyle Privileges.

HSBC is refreshing its Premier proposition to accommodate the heightened diversity of the growing affluent population in Hong Kong1 and empower them to create wealth plans that adapt to their aspirations. The refresh brings in a suite of enhanced wealth capabilities and international education support, as well as other first-to-market privileges under HSBC Prime Club – an exclusive wealth and international education engagement program for priority customers.

In 2021, the net investment amount2 by HSBC Premier customers more than doubled from a year ago. There was also a steady growth in the customer base for the proposition, especially among digital savvy millennials. The number of new-to-bank millennial Premier customers has increased by over 100 per cent last year.

The latest service uplift focuses on maximising investment opportunities for HSBC Premier customers as they continue to move up the wealth ladder. Customers will also benefit from more comprehensive digital banking and international education support. With the changing concept of family, HSBC also adopts a new approach to banking services, taking into account the evolving family dynamics and new challenges faced by customers and their family members – whether it be related to their career ambition, education needs and other life goals.

 

Brian Hui, Head of Customer Propositions, International and Marketing, Wealth and Personal Banking, Hong Kong, HSBC, said: “Since its rollout in 2007, HSBC Premier has been a market-leading proposition to support the wealth aspirations of families in Hong Kong. As their banking needs continue to evolve with time and the changing concepts of family, we have reimagined our service offerings by leveraging HSBC’s global presence and connectivity, as well as solid wealth credentials. Under the service reinvention, we have significantly enriched our wealth and international banking services to drive wealth creation for customers and support their children’s overseas education needs.”

 

HSBC’s survey finds that parents with net asset balance of HKD1 million or above are willing to spend more on children’s education while cutting their personal entertainment and shopping. Nearly 40 per cent of them are also keen on building and preserving wealth for their next generation, indicative of their needs for professional advice and advanced wealth solutions.

 

Sami Abouzahr, Head of Investments and Wealth Solutions, Wealth and Personal Banking, Hong Kong, HSBC, said: “Our customers have their own unique ambitions at different stages of their lives, whether it’s building a safety net in uncertain times, making major lifestyle or career changes, preparing for life after work, or taking care of the next generation. The refreshed proposition brings together the investment and insurance solutions, through digital and human channels, to support them on their journey.”