HSBC has officially opened its flagship wealth centre in Malaysia, located in Menara IQ at the Tun Razak Exchange (TRX), Malaysia’s international financial centre.
The wealth centre is purpose-designed for HSBC’s Premier Elite1 and high-net-worth clients, providing a private and exclusive environment for them to consult with HSBC’s senior relationship managers and access bespoke solutions to grow, manage, and protect their wealth.
The opening aligns with the positive growth seen in Malaysia’s wealth market, as the country progresses towards achieving high-income status.
According to estimates, the value of liquid assets held by high-net-worth individuals in Malaysia in 2024 stood at $176.62bn and will increase at a compound annual growth rate of 6.1% from 2024 to 2028.
With Malaysia assuming the ASEAN Chairmanship in 2025, the establishment of the flagship wealth centre also aligns with the region’s growing importance as a wealth producer, investment destination, and wealth management market.
The opening ceremony at TRX was officiated by YB Tuan Liew Chin Tong, deputy minister of investment, trade and industry, and witnessed by Dato’ Omar Siddiq, CEO of HSBC Bank Malaysia, and Linda Yip, country head of international wealth and premier banking, HSBC Bank Malaysia.
During his keynote YB Liew said: “In an evolving global landscape, KL plays a crucial role in creating wealth for the nation. The opening of HSBC’s wealth centre in Malaysia solidifies KL’s position as a regional investment hub. The objective extends beyond wealth management to foster industry growth, channelling financial resources towards the industrial sector.
"This strategic approach is geared towards propelling Malaysia as a key hub for manufacturing and technology, positioning KL for abundant global opportunities."
HSBC’s Yip said: “Malaysia’s strong economic fundamentals provide a solid foundation for the growing wealth segment, which is important to the country’s aspirations to become a high-income nation. Therefore, the timing is right for HSBC to open its flagship Wealth Centre in Malaysia.
"TRX’s position as Malaysia’s international business and financial hub also aligns with HSBC’s position as a leading international bank and wealth management provider in the country. Looking ahead, we aim to replicate this successful model in other key locations here where our footprint is already established.”
HSBC’s recent Quality of Life survey found that 72% of affluent individuals in Malaysia are active financial planners relative to some regional peers and seek to build an investment portfolio that is diversified across asset classes, geographies, and products.
Yip continued: “We see increasing demand for more sophisticated and specialised wealth solutions to help our customers navigate life’s journey and achieve their goals. We are committed to partnering with our customers and clients at every step of that journey, and providing solutions that are optimal to their circumstances. I would like to personally invite all our Premier Elite customers and clients to come and visit our Wealth Centre at Menara IQ.”
Visitors to the Wealth Centre will also be able to view the latest art installation by renowned Malaysian artist Red Hong Yi. Named “Red and Gold”, the artwork intricately intertwines over 11,811 20-sen coins to create the image of a golden hibiscus, Malaysia’s national flower. The installation embodies the idea that building wealth is a form of art – a process of nurturing ambitions into growth and transforming something as ordinary as the coin into a work of beauty.
HSBC also has dedicated wealth centres in mainland China, Hong Kong, Singapore, and Taiwan.
Picture shows from L-R: Heather Goh, Head of Customer and Marketing, International Wealth and Premier Banking, HSBC Bank Malaysia; Dato’ Omar Siddiq, CEO, HSBC Bank Malaysia ;YB Tuan Liew Chin Tong, Deputy Minister of Investment, Trade and Industry; Linda Yip, Country Head of International Wealth and Premier Banking, HSBC Bank Malaysia; and Daniel Lim, Head of Distribution, International Wealth and Premier Banking, HSBC Bank Malaysia, at the launch of HSBC’s flagship Wealth Centre located in Malaysia’s international financial centre, Tun Razak Exchange. solutions.
