KUCHING: HSBC head of international wealth and premier banking Asia, Kai Zhang, said HSBC projects the proportion of Malaysian adults with at least US$250,000 (US$1=RM4.20) in financial wealth to double over the current decade.
According to Zhang, Malaysia’s economy is creating more opportunities to build and sustain wealth.
“We estimate that the percentage of adults in Malaysia with at least USD250,000 in financial wealth will double over the next decade,” she said in a statement today.
It marked the launch of HSBC Bank Malaysia Bhd’s all-new HSBC Premier service, designed for affluent and high-net-worth customers with an expanded suite of wealth, health, travel and international banking solutions.
HSBC’s ambition is to become the leading wealth manager in Asia and the Middle East, with Malaysia playing a crucial role in that vision.
“Malaysia is one of the region’s most dynamic and promising wealth markets, with a young, internationally minded population. As the Malaysian economy grows, so does the opportunity to build and grow wealth,” Zhang said in her keynote speech at the launch today.
HSBC first introduced its Premier banking services in Malaysia 25 years ago and has progressively expanded offerings for the growing affluent market.
Recent developments include the launch of HSBC Premier Elite in 2024, the opening of its flagship Wealth Centre at Tun Razak Exchange earlier this year, and the establishment of the HSBC Wealth Academy.
“We are seeing customers manage their wealth with more intent and seeking diversification across geographies and asset classes.
“They’re investing for the long term, using a broader range of investment instruments and integrating wealth decisions into broader life goals, from education and health, to lifestyle and legacy,” Zhang said.
“They’re looking for more than just returns. They want holistic planning, relevant wealth and banking solutions, as well partnership through life. This is precisely what our brand-new HSBC Premier proposition is designed to deliver.”
HSBC Malaysia’s country head of international wealth and premier banking, Linda Yip, said according to GlobalData estimates, Malaysia’s affluent market, including high-net-worth individuals bracket, is projected to grow at a compound annual growth rate of 5.4 per cent from 2025 to 2029, with liquid assets reaching nearly USD350 billion in four years’ time.
“Affluent customers now seek holistic solutions that help them accelerate their wealth, and at the same time place their health and wellbeing at the forefront.
“Balancing these needs allow them to grow, protect, enjoy and preserve their wealth for generations.
“At HSBC, our aspiration is to be the international bank of choice for affluent customers, supporting their holistic wealth management needs,” she said.
The enhanced HSBC Premier is built on four pillars, namely wealth, health, travel and international.
