Economy

HSBC takes centre stage in positioning Hong Kong as an international wealth hub for family offices

  • 31. Mar 2023. 8:26
  • By The EU Times
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Hong Kong is rapidly emerging as an international hub for family offices, and HSBC is taking centre stage in positioning the city as a leader in the sector.

The banking powerhouse has announced an initiative to provide a range of services to family offices in Hong Kong, including wealth management, corporate finance, and banking solutions.

The initiative is part of HSBC’s strategy to strengthen its presence in the family office segment, which has grown significantly in recent years.

HSBC’s initiative will offer a wide range of services tailored to family offices, which are typically owned by wealthy families that manage their own investments and assets.

HSBC’s primary focus will be on helping family offices to achieve their financial goals and to manage their wealth efficiently.

The banking giant will also provide advice on a range of legal, tax and regulatory issues, as well as offering access to a variety of high-end services such as property management and trust services.

HSBC’s move is designed to make it easier for family offices to do business in Hong Kong, and to position the city as an attractive destination for family offices from around the world.

According to HSBC, the initiative is the bank’s commitment to helping family offices to grow and succeed in Hong Kong.

HSBC’s move is being welcomed by the family office community, with many hailing it as a significant step forward for the sector.

The initiative is also being seen as part of Hong Kong’s ambitions to become a leading international wealth hub.

Hong Kong has long been a popular destination for international wealth, but the city is now looking to further tap into the family office segment.

With HSBC’s initiative in place, Hong Kong is well-positioned to become an even more attractive destination for family offices from around the world.