After a period of trimming geographies, global banking giant HSBC has announced a major reorganiastion. The move will give it a more traditional integrated wealth division, which is an approach that has worked well in other universal banks.

There is considerable detail still to be laid out regarding HSBC’s latest reorganisation, particularly regarding its retail banking operations outside of Hong Kong (China SAR) and the UK. Yet one clear winner is its wealth management operations and broader wealth strategy. The consolidation of its insurance, asset management, private banking, and Premier banking divisions is a tried and tested strategy used at other international universal banks, generally to good effect.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

GlobalData Wealth Management Competitor Analytics

Among the top global wealth managers in GlobalData’s Wealth Management Competitor Analytics, universal banks with similar setups include JPMorgan Chase and BNP Paribas. Drawing all of the wealth- and investment-related parts of HSBC’s sprawling operations together should give it focus and synergies to continue growing its wealth management business and wealth fee income.

One reporting line and closer integration between insurance, asset management, and wealth should mean deeper and more holistic client relationships. This will be particularly important going into 2025 as interest rates begin their march down across its core geographies and net interest margins for all banks —including HSBC’s critical profit centers in the UK and Hong Kong (China SAR)—are squeezed.

Andrew Haslip is Head of Content for Wealth Management and Asia-Pacific, GlobalData

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.