From left: Daniel Lim, Head of Distribution, HSBC Malaysia, Heather Goh, Head of Customer & Marketing, HSBC Malaysia, Kai Zhang, Head of Wealth and Personal Banking, South Asia HSBC, Linda Yip, Country Head of Wealth and Personal Banking, HSBC Malaysia, Raja Amir Shah Raja Azwa, CEO of HSBC Amanah Malaysia and Jon Chivers, Head of Wealth Management, HSBC Malaysia
In an era when the demands of the affluent are becoming more diverse, HSBC, leveraging its strength in international and wealth management services, has launched Premier Elite, a new addition to its elevated suite of services that caters to the evolving needs and aspirations of the growing wealth segment, specifically high net worth individuals in Malaysia, paired with lifestyle solutions that go beyond traditional banking offerings.
In 2022, the total liquid assets of affluent individuals in Malaysia (with assets exceeding US$100,000) stood at US$307 billion, with the high-net-worth category (those with balances exceeding US$1 million) accounting for over half of the figure1.
Premier Elite is an elevated service aimed at high-net-worth customers, with bespoke structured investments, dedicated bond services, wealth and legacy preservation, and international banking services. It also provides exclusive concierge services through HSBC’s partnerships, including worldwide medical assistance, global dining and travel privileges, as well as international tax advisory support.
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HSBC Bank Malaysia CEO Datuk Omar Siddiq noted the acceleration in Malaysia’s growth trajectory, driven by the government’s initiatives to attract more significant foreign direct investments and catalyse the domestic direct investment flows under the Madani Economy framework and the New Industrial Master Plan.
He added that these efforts will benefit the economy, bolster Malaysia’s wealth narrative and support the country’s transition to a high-income nation.
“As a leading international bank with a 140-year presence in Malaysia, we have always sought to support the needs of our customers and clients to continue to open up a world of opportunity for them.
“Our Premier Elite service is in line with HSBC’s commitment to continuously strengthen our offers to meet the evolving needs and aspirations of Malaysia’s growing wealth segment while also expanding our wealth business in the country,” said Omar.
Meanwhile, HSBC Malaysia country head of wealth and personal banking Linda Yip highlighted the shift in the wealth paradigm in Malaysia, with affluent customers now spanning a wider range of generations and personas.
“At HSBC, we are harnessing our international strengths and leading wealth capabilities to deliver a solution to address the desires of this ever-expanding wealth segment. Premier Elite has something for everyone to meet their individual needs across their different stages of life and has been skilfully crafted to provide all-round wealth, lifestyle and health services, and privileges to our high-net-worth customers,” she said.
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Premier Elite is open to new HSBC and HSBC Amanah Premier customers with a total relationship balance or TRB of at least RM3 million with the bank, while existing Premier customers currently maintaining this TRB level will be converted to Premier Elite customers.
In conjunction with the launch, HSBC Premier Elite customers will stand a chance to be rewarded with a limited edition HSBC 999.9 Pure Gold Banknote when they place a minimum of RM3mil in investment and/or insurance/takaful or combination of both2.
The bank offers its Premier Elite customers Priority Product Preview for the latest wealth solutions, wealth insights exclusively curated by HSBC’s chief investment officer, bespoke structured investments across multiple asset classes, access to newly issued bonds, sukuk and private placements, diverse mutual fund choices, and ease of access to available liquidity via wealth portfolio lending.
Premier Elite customers are afforded access to international tax advisory support from EY. They can also manage all their accounts from one place and make zero-fee transfers between accounts with HSBC Global View and HSBC Global Transfers.
Furthermore, they can open their international accounts before leaving their home country and enjoy access to any HSBC Premier Centre in Malaysia and other cities worldwide.
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Premier Elite customers are entitled to Elite Concierge Privileges, including lifestyle benefits that feature priority booking and complimentary refreshments or desserts at Michelin-starred and top-ranked restaurants in Asia, two complimentary airport limousine services at selected airports locally and overseas, 12 complimentary access to exclusive airport lounges worldwide, and enhanced Air Miles accumulation with the HSBC Premier Travel Mastercard Credit Card.
Additionally, Premier Elite customers can benefit from exclusive vehicle and private jet charter discounts.
Premier Elite ensures peace of mind for customers with 24/7 global medical assistance, worry-free hospitalisation at selected medical institutions, and comprehensive medical evacuation and repatriation services.
Protective health privileges extend to comprehensive medical coverage with a high annual limit and no lifetime limit, including an option for outpatient specialist visits and daily cash benefits during hospitalisation.
Moreover, Premier Elite accords priority services with round-the-clock access to Personal Premier Elite Assistance, support from dedicated Premier Relationship Managers and the expertise of a team comprising senior wealth specialists who are able to develop a global perspective.
1 GlobalData (https://www.globaldata.com/)
2 HSBC/HSBC Amanah Wealth 999.9 Gold Notes Promotion Terms and Conditions apply. Actual product specifications may vary from the visual shown above and for illustration purpose only.
