- HSBC launches Entrepreneur Incubation program offering tailored wealth planning and global networking.
- Hong Kong entrepreneurs’ mobility increases demand for cross-border financial solutions.
- Innovation Exchange connects clients with tech startups to enhance industry insights and investments.
HSBC aims to strengthen assistance for entrepreneurs at various phases of their financial and business journey through an improved entrepreneurial wealth offering in Asia, beginning in Hong Kong.
Eighty-three percent of entrepreneurs worldwide claim that family and legacy drive their wealth, prompting HSBC to experience a notable increase in demand for its integrated solutions addressing both personal and business requirements, particularly for entrepreneur clients with varied and interconnected needs.
Business owners in Hong Kong are quite mobile, with about 80 percent residing part of the year in multiple locations, in contrast to a worldwide average of 53 percent. However, Hong Kong continues to be their primary business market, with eight out of ten (81 percent) functioning domestically. The rising global lifestyle of entrepreneurs and their families has resulted in a heightened need for cross-border financial solutions.
In its newest initiative for early-stage entrepreneurs, HSBC has introduced the Private Wealth Entrepreneur Incubation programme for current corporate clients, designed to support and expedite high-potential business owners who have not yet engaged with the private bank. This programme offers customized wealth planning, investment events, and entry to a worldwide network of industry professionals, all backed by the bank's seasoned relationship managers.
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HSBC has initiated the Innovation Exchange program in Hong Kong and the UK to link private banking clients with cutting-edge businesses for the exchange of industry insights in the innovation and technology sector. This encompasses the “All-in on Innovation” thought leadership initiative, providing ultra-high net worth individuals in Asia, who are enthusiastic about the tech industry, an inspiring trip to the US to connect with accomplished tech venture capitalists and startups.
Lok Yim, Regional Head, Global Private Banking, Asia Pacific, HSBC stated, “Entrepreneurs have always been an integral part of our business. Today, two-thirds of our Global Private Banking clients in Hong Kong are entrepreneurs. With growing wealth in Asia, we are pleased to launch a more focused proposition to further build on our strong connectivity across Global Private Banking, Commercial Banking and Corporate and Institutional Banking to bridge entrepreneurs’ business success with tailored investment strategies and long-term wealth planning.”
Frank Fang, Head of Commercial Banking, Hong Kong and Macau, HSBC said, “Entrepreneurs need to balance their personal goals with business aspirations, making a holistic approach to wealth management essential. For 160 years, we’ve been helping them thrive by managing their commercial and personal wealth – because when one succeeds, the other grows too. Our tailored strategies help entrepreneurs align their goals, grow sustainably, and create success that works for every part of their life."