Kuala lumpur: HSBC Malaysia has launched its 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 head of international wealth and premier banking Asia, Kai Zhang, stated that Malaysia is the fifth market globally to introduce the upgraded proposition. She expressed that this enhancement aims to take the premium experience to the next level for Malaysia, emphasizing the country’s dynamic and promising wealth market, bolstered by a young, internationally minded population.
According to BERNAMA News Agency, 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. Zhang highlighted that 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, indicating a growing trend of customers managing their wealth with more intent and seeking diversification.
HSBC Malaysia’s country head of international wealth and premier banking, Linda Yip, noted that GlobalData estimates project Malaysia’s affluent market, including high-net-worth individuals, to grow at a compound annual growth rate of 5.4 per cent from 2025 to 2029, with liquid assets reaching nearly US$350 billion in four years’ time. Yip emphasized the importance of holistic solutions that cater to both wealth acceleration and the health and wellbeing of affluent customers. HSBC aims to be the international bank of choice for these customers, supporting their holistic wealth management needs.
The enhanced HSBC Premier is built on four pillars: wealth, health, travel, and international. Yip cited HSBC’s Quality of Life research, noting that the affluent allocate substantial portions of their portfolio to investments like fixed income bonds and equities, while lifestyle priorities include savings for vacation and health and wellbeing.
For wealth, Premier customers have access to over 350 diverse investment solutions, including unit trusts, bonds, structured products, and insurance plans. They also benefit from relationship managers and specialists providing regional and global market insights. In health, HSBC has partnered with Sunway Healthcare Group to offer significant discounts on health screenings and other services to HSBC Premier customers.
HSBC is also enhancing travel card benefits for Premier and Premier Elite customers, offering accelerated rewards, complimentary lounge access, travel insurance, and global data roaming. The international segment of the service boasts worldwide Premier recognition, the ability to open overseas accounts, and preferential foreign exchange rates among other benefits.
To mark the launch, HSBC is offering incentives such as a 4.28 per cent annual return on six months Time/Term Deposit placements and enhanced returns on investments or insurance products for new customers joining HSBC Premier or Premier Elite.