HSBC Private Bank - Competitor Profile

November 2020 •
36 pages •
Report ID: 5987031 •
Format: PDF

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HSBC Private Bank - Competitor Profile

Summary
’HSBC Private Bank - Competitor Profile’ provides a comprehensive analysis of HSBC Private Bank’s operations.It offers insight into the company’s strategy and financial performance, including key data on assets under management (AUM).

Customer targeting and service propositions are covered, as are product innovation, marketing activities, and other key company details.

Headquartered in London, HSBC Holdings is a global universal bank.HSBC Private Bank is a brand used by its Global Private Banking (GPB) division, catering to individuals with more than $5m (or the local currency equivalent) in assets.

GPB itself operates as a distinct unit within the newly created Wealth and Personal Banking (WPB) segment.

Scope
- HSBC Group restructured its businesses by merging its GPB and Retail Banking and Wealth Management divisions into WPB.
- The new business will manage wealth across all client segments, from retail clients to ultra-high-net-worth (UHNW) individuals. It will mainly focus on growth in Asia.
- HSBC Private Bank aims to be the private bank of choice for wealthy clients already banking with other HSBC divisions, particularly entrepreneurs and family business owners.
- Most of the private banking segment’s net new money comes through intra-group collaborations and referrals.
- In 2019, HSBC Private Bank recorded the highest annual growth in its pre-tax profit since 2014.
- It is launching digital products to help improve financial outcomes for individual investors and simplify banking services.

Reasons to Buy
- Examine the financial performance, key ratios, and AUM growth for HSBC Private Bank and benchmark this competitor against other global wealth managers.
- Understand HSBC Private Bank’s current strategic objectives and their impact on its financial performance.
- Discover HSBC Private Bank’s key products and client targeting strategies and examine whether these have been successful.
- Learn more about HSBC Private Bank’s marketing strategy, social media presence, and digital innovations.

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