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Competitor Profile: HSBC Private Bank

GlobalData’s 'Competitor Profile: HSBC Private Bank' provides a comprehensive analysis of HSBC’s private banking and wealth management operations. It offers insights 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 and marketing activities.

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

Scope

– HSBC Private Bank offers a wide range of traditional and alternative investment products and lending and deposit products to HNW and UHNW individuals, entrepreneurs, and family offices.

– In March 2020, HSBC Group restructured by merging its Global Private Banking and retail and wealth management divisions into Wealth and Personal Banking.

– HSBC Holdings has had an active cost-cutting target in place since 2020. As part of this plan, in May 2021, HSBC exited its loss-making retail banking business in the US to eliminate losses in the country.

– The bank has been focusing on digitalization of its products and services. In August 2021, HSBC Private Bank launched HSBC GPB Chat in Asia. The product is a client messaging platform for clients to interact with their relationship managers and investment counselors through the channel of their choice, including WhatsApp and WeChat.

Reasons to Buy

– Examine the financial performance, key ratios, and AUM growth of both HSBC holdings and 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.

Key Players

HSBC holdings

HSBC Private Bank

My Money Bank

CloudBees

Table of Contents

Table of Contents

Executive Summary

Strategy

Financial Performance

Customers and Products

Marketing and Advertising

Appendix

    Pricing

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