HSBC brings Access platform to Singapore UHNW clients

HSBC Private Bank has expanded its Access investment platform to Singapore, making high-growth opportunities available to ultra-high net worth individuals and family offices. The city-state is now the second location for the service, following Hong Kong. Clients with qualifying status will gain access to venture capital funds, private market products, and direct investments previously limited to institutional investors.

The platform will provide research and insights drawn from HSBC's corporate, trade and innovation banking divisions, connecting clients with relevant entrepreneurs and companies, such as technology start-up founders. Tommy Leung, head of HSBC South Asia private bank, explained that HSBC Access enables clients to directly engage with private investment opportunities sourced from across the bank's network, complemented by wealth planning and succession advice.

Gilbert Ng, head of HSBC Singapore banking, corporate, and institutional banking, emphasized HSBC's role in supporting businesses throughout their life cycle, from start-ups to large corporations, making HSBC Access feasible. The bank recently added senior staff to its teams serving India, Singapore, and China-related markets. Bloomberg reported a potential restructuring of HSBC's Singapore operations, which would consolidate wholesale, retail, and private banking businesses under one structure.

Despite this, HSBC remains committed to Singapore, with plans for a global AI center and the hiring of over 100 AI specialists.