HSBC Taiwan aiming to lead in wealth management – 台北時報
  • By Kao Shih-ching / Staff reporter

HSBC Bank Taiwan Ltd (匯豐台灣商銀) is planning to invest US$146 million in Taiwan from last year to 2025, as it aims to be the leading international bank in the nation’s wealth management market, chief executive officer Adam Chen (陳志堅) told a news conference in Taipei yesterday.

That is in line with its parent company’s goal of becoming the top wealth management bank in Asia by 2025, Chen said.

The bank will upgrade its platforms where clients can purchase a variety of financial products, such as bonds, US stocks, structured notes and foreign currencies, and improve its digital service to optimize customers’ experience, he said.

Photo courtesy of HSBC Bank Taiwan Ltd

“Wealth management is not just about selling products. We will also offer consulting services to solve clients’ problems, such as those about inheritance,” Chen said.

Some people do not know that their children cannot claim their inheritance until they pay the inheritance tax first, Chen said, adding that leaving a legacy requires good planning.

The bank is to set up three big centers of wealth management, some of which are to be converted from regular branches, he said.

“The issue of whether to scrap traditional bank branches has drawn a lot of attention lately… We think that as consumers increasingly rely on digital banking, our traditional branches must undergo a transformation,” Chen said.

The bank is planning to increase its employee numbers by a net 460, recruiting more customers relations agents and marketing staff, he said.

The bank last month relocated its head office to Taipei 101, the tallest building in Taiwan, from the Taipei Word Trade Center.

The relocation marks a brand-new milestone in the bank’s business development in Taiwan. It also highlights the role of Taiwan as one of the priority markets for HSBC Holdings PLC in Asia, the bank said.

While HSBC has contributed to the progress and prosperity of the Taiwanese economy over the past 38 years, the bank will continue to make contributions to Taiwan’s economic development in the years to come, Chen said.

He stressed that as Taiwan has abundant assets and skills across industries, the country is well positioned to become the leader in developing a sustainable economy in Asia.

One of the primary reasons the bank moved to Taipei 101 is because the building has been awarded the Leadership in Energy and Environmental Design (LEED) Platinum certification for energy efficiency and environmental design, Chen said, adding that working in the building should help the bank achieve its goal of cutting carbon …….