HSBC Private Bank has introduced HSBC Access in Singapore, opening a range of institutional-style investment options to ultra-high net worth individuals and family offices.
The city state is the second location for the offering after Hong Kong.
Through the platform, qualifying clients can take part in opportunities linked to high-growth innovation businesses.
They will also receive research and information drawn from the bank’s corporate, trade and innovation banking divisions.
The service is intended to connect clients with selected individuals and companies, including technology start-up founders.
Available options include venture capital funds, private market products and direct investments, areas that had previously been limited to institutional investors.
HSBC South Asia private bank head Tommy Leung said: “HSBC Access gives them a direct route into private investment opportunities sourced from across our corporate and innovation banking network, alongside the wealth planning and succession advice that turns business success into a lasting legacy.”
HSBC Singapore banking, corporate and institutional banking head Gilbert Ng said: ”HSBC supports businesses in Singapore across their full life cycle, from venture-backed start-ups through to the largest corporates in the region, and that breadth of coverage makes HSBC Access possible.”
Last month, HSBC Private Bank made a number of senior hires across teams serving India, Singapore and China-related business.
Harjeet Singh was appointed senior desk head for Global India in Singapore. Lay Hong Tan joined from UBS Singapore to lead the Singapore market desk, while Jay See took up the role of desk head for the Offshore China Market in Singapore.
Separately, Bloomberg reported last month that HSBC was weighing a restructuring of its Singapore operations, citing sources.
Under the possible move, the bank’s wholesale, retail and private banking businesses in Singapore would be brought together within a single structure.
HSBC is also continuing to commit resources to Singapore, including plans for a global AI centre and the recruitment of more than 100 AI specialists.
“HSBC brings Access platform to Singapore UHNW clients ” was originally created and published by Private Banker International, a GlobalData owned brand.