HSBC Global Private Banking expands in Chengdu and Hangzhou.
The two senior executives join the investments and wealth solutions unit.
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Clients can now communicate with relationship managers on messenger apps through HSBC GPB Chat.
The bank is now targeting Hong Kong investors with HK$5m.
The bank expects that the changes will help grow its affluent and retail businesses.
Assets sourced from family offices and trusts grew nearly 90% during the year.
The territory’s proximity to mainland China and its diverse product offerings continue to give Hong Kong an advantage over rival private wealth management (PWM) centers, according to a recent report.
Complex fee structures and the need for a more personal connection with relationship managers have led to dissatisfaction among Asia’s high net worth investors.