HSBC unveils Premier Elite to serve the needs of high net worth customers
With the aim to offer elevated banking services to high net worth customers, Premier Elite has bespoke structured investments, dedicated bond services, wealth and legacy preservation, international banking services, privileged elite concierge services offered by HSBC partners which include global medical assistance, global dining and travel privileges, as well as international tax advisory support.
Malaysia is a fast-growing wealth hub. In 2022, the total liquid assets held by affluent individuals (those with wealth balances of USD 100,000 and above) stood at US$307 billion and this is expected to grow at CAGR of 3.2% over the next few years. As the wealth balances held by this group of individuals expands, they then transcend into the high net worth category (those with wealth balances of US$1 million and above) which dominates 53% of the affluent wealth balances.1
Dato’ Omar Siddiq, CEO, HSBC Bank Malaysia said: “The Malaysian economy’s growth trajectory is expected to accelerate in 2024. This will be driven by measures which have been put into place by the Government to attract greater foreign direct investments and catalyse improved domestic direct investment flows as articulated in the Madani Economy Framework and the New Industrial Master Plan. These efforts will benefit the economy, and in turn, bolster Malaysia’s wealth narrative while also 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 offerings to meet the evolving needs and aspirations of Malaysia’s growing wealth segment while also expanding our wealth business in the country.”
Linda Yip, Country Head of Wealth and Personal Banking, HSBC Malaysia said: “The wealth paradigm in Malaysia has shifted with affluent customers now spanning a wider range of generations and personas, with increasingly sophisticated needs and aspirations. 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 needs across different stages of their life, and has been skillfully crafted to provide all-round wealth, lifestyle and health services and privileges to our high net worth customers.”
What a Premier Elite Account can do for you
Premier Elite is open to new HSBC/ HSBC Amanah Premier customers that have a Total Relationship Balance (TRB) of RM3 million or more with the Bank, and existing Premier customers who maintain this TRB levels will be converted into Premier Elite customers.
*Key features of Premier Elite include:
- Wealth Solutions: Priority Product Preview for the latest wealth solutions, invaluable wealth insights exclusively curated by HSBC’s Chief Investment Officer, bespoke structured investments across multiple asset classes, access to newly issued bonds/ sukuks and private placements, diverse mutual fund choices and ease of access to available liquidity via wealth portfolio lending.
- International banking services: Gain access to international tax advisory support by a HSBC partner. Manage all your accounts from one place online and make fee-free transfers between them with HSBC Global View and HSBC Global Transfers. International account opening before leaving your home country and enjoy access to any HSBC Premier Centre in Malaysia and other cities around the world.
- Elite Concierge Privileges:
- Lifestyle Benefits -- Priority booking and special complimentary refreshments/dessert at selected Michelin-starred restaurants and Asia’s 50 Best Restaurants, 2x complimentary airport limousine services at selected airports locally and overseas, 12x complimentary access to exclusive airport lounges and 1.1x Air Miles for every RM1 overseas spend with HSBC Premier Travel Mastercard Credit Card and exclusive discounts on car and private jet charters.
- Medical services: 24/7 global medical assistance, worry-free hospitalisation at selected medical institutions, arrangement of emergency medical evacuation and repatriation while abroad.
- Health and Protection privileges: 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.
- Priority services: 24/7 immediate Personal Premier Elite Assistance and dedicated senior Premier Relationship Managers and a team of senior wealth specialists with global expertise.
*Full terms and conditions apply.
In conjunction with the launch, HSBC Premier Elite customers will get to enjoy 8% p.a. on their 3- month time deposit by investing or purchasing an insurance plan with us2 and get rewarded with a limited edition 999.9 Pure Gold Banknote when they place a minimum of RM3 million in investment and/or insurance/takaful3.
To find about more about Premier Elite, contact Premier Elite Assistance at 1-300-88-0988 (local) or +603-83218800 (overseas) or visit www.hsbc.com.my/premier-elite.
Media enquiries:
Supriya T Surendran
+6012 272 8648
supriya.t.surendran@hsbc.com.my
Rhia George
rhia.sarah.george@hsbc.com.my
- GlobalData (https://www.globaldata.com/)
- HSBC/HSBC Amanah Premier Elite Wealth Bundle 2024 Terms and Conditions apply. For more information, please contact your Relationship Manager.
- HSBC Bank/HSBC Amanah Wealth 999.9 Gold Notes Promotion Terms and Conditions apply. For more information, please contact your Relationship Manager.
Note to editors:
HSBC Malaysia
HSBC’s presence in Malaysia dates back to 1884 when the Hongkong and Shanghai Banking Corporation Limited established its first office in the country on the island of Penang, with the permission to issue currency notes. HSBC Bank Malaysia Berhad was locally incorporated in 1984 and is a wholly-owned subsidiary of The Hongkong and Shanghai Banking Corporation Limited, founding member of the HSBC Group. In 2007, HSBC Bank Malaysia was the first foreign bank to be awarded an Islamic banking subsidiary licence in Malaysia, namely HSBC Amanah Malaysia Berhad. HSBC Malaysia offers a comprehensive range of banking and financial services including Islamic financial solutions. HSBC Malaysia has also led innovation in Malaysia by introducing Malaysia’s first ATM and Electronic Touch Banking in the early 1980s. Today, HSBC Malaysia has launched innovative solutions such as HSBCnet for secure banking for businesses, Trade Transaction Tracker and Facial Recognition on supported mobile phones.
The Hongkong and Shanghai Banking Corporation Limited
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 62 countries and territories. With assets of US$3,039 billion at 31 December 2023, HSBC is one of the world’s largest banking and financial services organisations.